Finally more insight into IORP II’s key function holders
At the end of last week, the bill implementing the IORP II directive was submitted to the Second Chamber. This European directive must be implemented by 2019 and, among other things, introduces the requirement to have three key functions (risk management, internal audit and actuarial). The Council of State says that, in practice, the impact of the directive will be limited. However, we expect that especially the introduction of the key functions will take some doing. In addition, not all implementation issues have been incorporated into the bill. We offer our thoughts on the optimal way to implement these key functions.
This article is only available in Dutch, click here to read it.