Escali Blog

What is the LEI code?

Sep 29, 2020 2:48:30 PM / by Gerdt Vedeler posted in EIOPA Reporting, Solvency II reporting

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Introduction

LEI (Legal Entity Identifier) is an international identification number which is used for legal entities (e.g. companies or government entities) operating in financial markets. Institutional investors including banks, insurance companies and pension funds use LEI codes as they are required for supervisory reporting. LEI codes are also useful in the calculation of solvency capital requirements.

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What is the CIC code?

Sep 15, 2020 1:05:06 PM / by Gerdt Vedeler

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Introduction

Complementary Identification Code (CIC) is a code for the categorisation of assets, used primarily by insurance companies for Solvency II reporting and by pension schemes for reporting to the European Insurance and Occupational Pensions Authority (EIOPA).

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EU’s sustainable finance

Sep 2, 2020 9:55:59 AM / by Marina Silitrari posted in ESG, EU

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Feedback on financial institutions’ obligation of advice on social & environmental aspects

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What is the NACE code?

Aug 21, 2020 11:57:28 AM / by Andrew Sweetmore posted in EIOPA Reporting, Solvency II reporting, NACE

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NACE  (for the French term “ N omenclature  statistique  des  A ctivités   économiques  dans la  C ommunauté   E uropéenne ”)  is a European standard for industry grouping widely used in statistic s . It   is required for  institutional reporting like Solvency II and EIOPA reporting  for pension schemes .   It comes from  EU Regulation 1893/2006 of the European Parlament  

What is NACE? 

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Solvency II - time to review?

Jul 7, 2020 11:36:06 AM / by Andrew Sweetmore posted in XBRL, QRT, Solvency II reporting, Taxonomy

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Nearly five years has gone by since Solvency II came into force. What have we learnt, and where do we go from here?

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EIOPA and ECB reporting requirements

Oct 17, 2019 2:27:00 PM / by Andrew Sweetmore posted in EIOPA Reporting

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A quick Google search for “EIOPA reporting for Pensions Schemes” brings up the Data Point Model and XBRL page on the EIOPA website. This page contains an enormous amount of information and can extremely useful for those of us who need to produce and validate the XBRL reports required by EIOPA and the ECB.

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Escali clients are ready for EIOPA reporting - are you?

Oct 11, 2019 2:42:00 PM / by Andrew Sweetmore posted in EIOPA Reporting

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The Bergen City Council Pension Fund (BKP) is one of the largest pension funds in Norway. With assets of nearly EUR 2bn, BKP will be required to submit EIOPA's new reports for pension schemes from Q3, 2019. BKP have successfully reported to the Financial Supervisory Authority of Norway as part of a test exercise. The pension fund is now well prepared to meet the reporting requirements.

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EIOPA reporting deferred in Ireland

Oct 4, 2019 11:00:07 AM / by Andrew Sweetmore posted in EIOPA Reporting

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Given a number of technical issues, the Pensions Authority has decided to defer the collection and reporting of data to EIOPA. Pension schemes will therefore not be required to submit EIOPA data separately to the Pensions Authority for a temporary period. This period is expected to be short.

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