1. Legal basis
1. The European Insurance and Occupational Pensions Authority (EIOPA) issues this opinion on the basis of Article 29(1) (a) of Regulation (EU) No 1094/2010 (EIOPA Regulation). According to this article EIOPA shall play an active role in building a common Union supervisory culture and consistent supervisory practices and approaches throughout the Union.
2. This opinion is based on Directive 2009/138/EC (Solvency II Directive), Commission Delegated Regulation (EU) 2015/35 (Delegated Regulation) and EIOPA’s guidelines and other relevant instruments.
2. Context, objective and scope
3. The United Kingdom (UK) on 29 March 2017 notified the European Council of its intention to withdraw from the European Union. The withdrawal will take place on the date of entry into force of a withdrawal agreement or, failing that, two years after the notification on 30 March 2019.
4. The UK’s decision to withdraw from the European Union includes the UK leaving the European single market. T
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