Briefly noted

• l Insurance regulators across Europe have achieved a significant level of harmonisation in their implementation of Insurance and Reinsurance Directives, said Ceiops (Committee of European Insurance and Occupational Pensions Supervisors) as part of its report on supervisory powers to the European Commission. However, Ceiops said that some supervisory authorities had introduced additional supervisory powers which reduced the level of harmonisation. Analysis of each member states’ prudential rules found that only half of national supervisors have implemented approval regimes for senior directors and key persons while other supervisors only check the fit and proper requirements or only approve specific key persons. Ceiops will publish its final report, which will include an assessment of sanctioning powers, in February 2009.