DUBLIN May 25 The European Union's insurance
watchdog will publish guidance for national regulators to ensure
they do not undercut one another in attracting firms moving from
London due to Brexit, its head of policy said on Thursday.
The risk of such arbitrage has recently crept onto the radar
of politicians and regulators as financial services firms begin
to outline plans to move operations to different member states
following Britain's vote last year to leave the EU.
"EIOPA (European Insurance and Occupational Pensions
Authority) is closely monitoring the developments and will
publish in due course its guidance for national authorities on
sound principles for authorisation and supervision," EIOPA's
head of policy Manuela Zweimuller told a conference.
"We will subsequently closely monitor their implementation."
(Reporting by Padraic Halpin, writing by Carolyn Cohn; Editing
by Rachel Armstrong)