The European Insurance and Occupational Pensions Authority held a cross-sector Seminar on "Regulatory Impact Assessment" at the MFSA.
This week long seminar was designed to provide delegates with practical experience of applying the Impact Assessment (IA) methodology to policy development (e.g. for technical standards, guidelines and recommendations, responses to calls for advice). The methodology is also applicable to national authorities' regulatory practices. Through interactive case studies delegates acquired knowledge in applying the various analytical tools in the respective sequence in the course of the impact assessment. Delegates were also able conduct impact assessment in topics relevant to insurance, pensions, banking and securities (or a cross-cutting topic).
This seminar saw the participation of various experts from around Europe, from the field of policy development and analysis at national supervisory authorities, as well as participants in EBA, ESMA and EIOPA working groups involved in the drafting of technical standards, guidelines and responses to Calls for Advice. A number of MFSA officials also participated in this Seminar.
Participants discussed the process of collecting data and its processing while carrying out Impact Assessment and tackled concrete examples of how to reach a balance in order to avoid an unnecessary regulatory burden. Officials were also given a detailed overview of the European Commission's 2014 IA guidelines.
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