Solvency II Directive - All-in-one Reporting Solution
On October 10th, 2014 the European Commission adopted a Delegated Act which contained the implementation rules for Solvency II.
Once approved by the European Parliament and Council it was published on the January 17th, 2015 in the Official Journal and entered into force the following day.
This new Directive has imputed standards covering three major areas; these being:
- Governance & Risk management
- Valuation of assets/liabilities and capital requirements
- Reporting and disclosure
Regarding the creation and reporting, CETRELSecurities, FD-Reporting and Taleo Consulting have combined their respective expertize and offering to offer a full STP solution dedicated to Solvency II reporting.
The undertakings are able to upload their data, generate their QRT’s and automatically transfer their XBRL reports directly to the "Commissariat Aux Assurances" (CAA).
The solution offers key features to the end users for the monitoring and managing of the entire communication chain with CAA in addition to the controls and validations of their data.
The testing start date planned by the CAA is set to October 15th, 2015; in order to enable participants to be compliant with the Solvency II directive no later than December 15th, 2015.
CETRELSecurities, FD-Reporting and Taleo Consulting representatives have stated "We’re convinced that our solution will benefit undertakings, not just by helping them to meet their requirements, but also by offering them an affordable and reliable service".
If you wish more information contact our Key Account Manager:
Email Address: firstname.lastname@example.org