Article 70 | Solvency II Directive | Directive 2009/138/EC

Article 70 - Directive 2009/138/EC (Solvency II Directive)

Attention! This article was amended after the current consolidated version was issued. The amendments apply since 28/01/2025. Please consult Directive 2025/2 to review the changes made to the article.

Article 70

Transmission of information to central banks, monetary authorities, payment systems overseers and the European Systemic Risk Board

Without prejudice to Articles 64 to 69, a supervisory authority may transmit information intended for the performance of their tasks to the following:

(a)

central banks of the European System of Central Banks (ESCB), including the European Central Bank (ECB) and other bodies with a similar function in their capacity as monetary authorities where this information is relevant to their respective statutory tasks, including the conduct of monetary policy and related liquidity provision, oversight of payments, clearing and securities settlement systems and safeguarding the stability of the financial system;

(b)

where appropriate, other national public authorities responsible for overseeing payment systems; and

(c)

the European Systemic Risk Board (ESRB), established by Regulation (EU) No 1092/2010 of the European Parliament and of the Council ( 11 ), where that information is relevant to carrying out its tasks.

In an emergency situation, including an emergency situation as referred to in Article 18 of Regulation (EU) No 1094/2010, Member States shall allow the supervisory authorities to communicate, without delay, information to the central banks of the ESCB, including the ECB, where that information is relevant to their statutory tasks including the conduct of monetary policy and related liquidity provision, oversight of payments, clearing and securities settlement systems and safeguarding the stability of the financial system, and to the ESRB, where such information is relevant to its tasks.

Such authorities or bodies may also communicate to the supervisory authorities such information as they may need for the purposes of Article 67. Information received in this context shall be subject to the provisions on professional secrecy laid down in this Section.

( 11 ) Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board (OJ L 331, 15.12.2010, p. 1).

TITLE I - GENERAL RULES ON THE TAKING-UP AND PURSUIT OF DIRECT INSURANCE AND REINSURANCE ACTIVITIES (Article 1-177)

CHAPTER I - Subject matter, scope and definitions (Article 1-13)

CHAPTER II - Taking-up of business (Article 14-26)

CHAPTER III - Supervisory authorities and general rules (Article 27-39)

CHAPTER IV - Conditions governing business (Article 40-72)

Section 1 - Responsibility of the administrative, management or supervisory body (Article 40)

Section 2 - System of governance (Article 41-50)

Section 3 - Public disclosure (Article 51-56)

Section 4 - Qualifying holdings (Article 57-63)

Section 5 - Professional secrecy, exchange of information and promotion of supervisory convergence (Article 64-71)Article 64 - Professional secrecy Article 65 - Exchange of information between supervisory authorities of Member States Article 65a - Cooperation with EIOPA Article 66 - Cooperation agreements with third countries Article 67 - Use of confidential information Article 67a - European Parliament powers of investigation Article 68 - Exchange of information with other authorities Article 69 - Disclosure of information to government administrations responsible for financial legislation Article 70 - Transmission of information to central banks, monetary authorities, payment systems overseers and the European Systemic Risk Board Article 71 - Supervisory convergence GL

Section 6 - Duties of auditors (Article 72)

CHAPTER V - Pursuit of life and non-life insurance activity (Article 73-74)

CHAPTER VI - Rules relating to the valuation of assets and liabilities, technical provisions, own funds, Solvency Capital Requirement, Minimum Capital Requirement and investment rules (Article 75-135)

CHAPTER VII - Insurance and reinsurance undertakings in difficulty or in an irregular situation (Article 136-144)

CHAPTER VIII - Right of establishment and freedom to provide services (Article 145-161)

CHAPTER IX - Branches established within the community and belonging to insurance or reinsurance undertakings with head offices situated outside the community (Article 162-175)

CHAPTER X - Subsidiaries of insurance and reinsurance undertakings governed by the laws of a third country and acquisitions of holdings by such undertakings (Article 176-177)

TITLE II - SPECIFIC PROVISIONS FOR INSURANCE AND REINSURANCE (Article 178-211)

TITLE III - SUPERVISION OF INSURANCE AND REINSURANCE UNDERTAKINGS IN A GROUP (Article 212-266)

TITLE IV - REORGANISATION AND WINDING-UP OF INSURANCE UNDERTAKINGS (Article 267-296)

TITLE V - OTHER PROVISIONS (Article 297-304b)

TITLE VI - TRANSITIONAL AND FINAL PROVISIONS (Article 305-312)

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Article 70 - Directive 2009/138/EC (Solvency II Directive)

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