The European Commission has published a short extract from a speech given by Commissioner Jonathan Hill to the Centre for European Policy Studies on 9 February 2016.

The first two paragraphs of the extract are about the resolution of central counterparties. The final paragraph suggests that Commissioner Hill was going to say (*) that:

“In the insurance sector, we’re working through the International Association of Insurance Supervisors on how to best manage risk. We of course expect all insurers to be ready with resolution and recovery plans. But at present, we’re not convinced that new EU legislation is needed. We’ll continue to closely monitor the situation very carefully. And we will take the same approach to the asset management sector.”

(* The full speech is not available yet; and the extract is marked “check against delivery”.)

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