The rule in plain words
NACE relating to Financial and Insurance activities, for which the letter identifying the Section followed by the 4 digits code for the class shall be used
The headline gives only the template and the kind of check, because the rule is too long to say in a headline. The plain words above say all of it.
What to do if your return fails it
- 01Open the table below and find the cells the rule reads.
- 02The check applies only when its first part holds in your return. When it does, the second part must hold too: fix the second part, or correct the first.
- 03It runs only when your filing indicators mark S.37.01 as reported.
- 04This is a warning. It does not stop the return on its own, but your supervisor may ask you to explain it.
The cells it reads
Risk concentration - exposure to counterparties: risk concentration - exposure to counteparties (S.37.01.04.01)
Column
- C0100Sector
Which returns it applies to
Line4 Check runs it on annual group (ARG) return on EIOPA taxonomy 2.10.0. EIOPA applies it to annual group (ARG) returns, as a warning.
EIOPA’s own words and formula
The plain words above are EIOPA’s own, word for word, from its list of validations.
Show the formulaShowHide
EIOPA's formula. Cells are written as {t: table, r: row, c: column}.
if matches(LocalName({t: S.37.01.04.01, c: C0100}), "^L.*") then matches(LocalName({t: S.37.01.04.01, c: C0100}), "^L\.\d{2}\.\d{2}$") else true()Other rules on Risk concentration - exposure to counterparties (S.37.01)
Every Solvency II rule on S.37.01
Checks like this one, run at the point of submission, are the first step to real-time supervision. Line4 builds SupTech software for financial regulators that runs checks like these as each return arrives.