Article 1, Point (8), Point (a) · Commission Delegated Regulation (EU) 2018/1221

Contents

(1) Article 1 is amended as follows:
(2) in Article 4, paragraph 6 is replaced by the following: ‘6…
(3) Article 177 is deleted;
(4) Article 178 is replaced by the following: ‘Article 178Spre…
(5) the following Article 178a is inserted: ‘Article 178aSprea…
(6) Article 180 is amended as follows:
(7) Articles 254, 255 and 256 are deleted;
(8) Article 257 is amended as follows:

(a)paragraphs 1 and 2 are replaced by the following:‘1.Where insurance and reinsurance undertakings become aware that the originator, sponsor or original lender fails to comply with the requirements set out in Article 6 of Regulation (EU) 2017/2402, or insurance or reinsurance undertakings become aware that the requirements set out in Article 5(1), (2) and (3) of that Regulation are not being complied with, they shall inform the supervisory authority immediately.2.Where the requirements in Article 5(1), (2) and (3) of Regulation (EU) 2017/2402 are not fulfilled in any respect by reason of the negligence or omission of the insurance or reinsurance undertaking, the supervisory authority shall impose a proportionate increase to the Solvency Capital Requirement in accordance with paragraph 3 of this Article.’;

Commission Delegated Regulation (EU) 2018/1221

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