1.EIOPA may, in the case of justified concerns about negative effects on policy holders, on its own initiative or at the request of one or more of the relevant supervisory authorities, set up and coordinate a collaboration platform to strengthen the exchange of information and to enhance collaboration between the relevant supervisory authorities where an insurance or reinsurance undertaking carries out, or intends to carry out, activities which are based on the freedom to provide services or the freedom of establishment and where:
such activities are of relevance with respect to the host Member State’s market;
a notification by the supervisory authority of the home Member State has been made under Article 152a(2) of deteriorating financial conditions or other emerging risks; or
the matter has been referred to EIOPA under Article 152a(2).
2.Paragraph 1 is without prejudice to the right of the relevant supervisory authorities to set up a collaboration platform where they all agree to do so.
3.The setting up of a collaboration platform pursuant to paragraphs 1 and 2 is without prejudice to the supervisory mandate of the supervisory authorities of the home Member State and host Member State provided for in this Directive.
4.Without prejudice to Article 35 of Regulation (EU) No 1094/2010, at the request of EIOPA or any supervisory authority, the relevant supervisory authorities shall provide all necessary information in a timely manner to allow for the proper functioning of the collaboration platform.
5.Requirements on enhanced supervisory cooperation and information exchange between home and host supervisory authorities in accordance with Article 152ab shall apply also to supervisory authorities participating in a collaboration platform as of the establishment of such collaboration platform pursuant to paragraph 1 or 2 of this Article and irrespective of whether the insurance or reinsurance undertaking is carrying out significant cross-border activities. Such information shall also be shared with EIOPA when collaboration platforms are set up pursuant to paragraph 1 of this Article.
6.Where two or more relevant authorities of a collaboration platform disagree about the procedure or content of an action to be taken, or inaction, in relation to an insurance or reinsurance undertaking, and where there are serious concerns about negative effects on policy holders, EIOPA may, at the request of any relevant authority, assist the authorities in reaching an agreement in accordance with Article 19(1) of Regulation (EU) No 1094/2010.
Where there are serious concerns about negative effects on policy holders in Member States other than the home Member State and indication of serious deficiencies in an insurance or reinsurance undertaking for which no or insufficient remedial action was taken by the competent supervisory authority, EIOPA may call for the supervisory authority of the home Member State to carry out an on-site inspection of the insurance or reinsurance undertaking. The supervisory authority of the home Member State shall launch the on-site inspection without delay and shall invite EIOPA and other supervisory authorities concerned to participate in it. Article 152ab(5), second, third and fourth subparagraphs, shall apply.
7.Where two or more relevant authorities of a collaboration platform disagree about information sharing pursuant to paragraph 4 or 5 of this Article, EIOPA may assist them in reaching an agreement in accordance with Article 19(1) of Regulation (EU) No 1094/2010 at the request of any relevant authority.
8.Where it deems it appropriate in light of the interest of policy holder protection or for financial stability purposes, EIOPA may publish information on findings, recommendations or measures stemming from supervisory work in the context of the collaboration platform.
Where EIOPA intends to publish the name of the insurance or reinsurance undertaking concerned, it shall without delay notify that undertaking of its intention to publish and grant sufficient time for that undertaking to provide written comments and to present any relevant information or arguments to EIOPA and other supervisory authorities of the collaboration platform. EIOPA shall duly assess the position of the undertaking concerned and shall take it duly into account when deciding on the publication of the name of the undertaking. EIOPA shall not publish the name of the undertaking concerned where such publication would jeopardise an ongoing investigation or would cause, insofar as it can be determined, disproportionate damage to it.