Request for a preliminary ruling from the Nejvyšší správní soud (Czech Republic) lodged on 11 January 2024 – NOVIS Insurance Company, NOVIS Versicherungsgesellschaft, NOVIS Compagnia di Assicurazioni, NOVIS Poisťovňa a.s. v Česká národní banka
(Case C-18/24, NOVIS)
Language of the case: Czech
Referring court
Nejvyšší správní soud
Parties to the main proceedings
Applicants: NOVIS Insurance Company, NOVIS Versicherungsgesellschaft, NOVIS Compagnia di Assicurazioni, NOVIS Poisťovňa a.s.
Defendant: Česká národní banka
Questions referred
Must Article 155 of Directive 2009/138/EC 1 (Solvency II) be interpreted such that it also applies to cases of supervision by the supervisory authority of a host State over compliance, by an insurance undertaking from another Member State, with the obligations laid down by Regulation No 1286/2014 2 (PRIIPs) or based on Directive 2016/97 3 (IDD)?
If so, does Article 155 of the Solvency II Directive imply priority powers for the supervisory authority of the home State, and the obligation on the part of the supervisory authority of the host State to first exhaust the notification and remedial procedures under paragraphs 1, 2, and 3 of that article of the directive, even in the case of imposing administrative sanctions under paragraphs 5 and 6 of that article of the directive?
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1 Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (OJ 2009 L 335, p. 1).
1 Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (OJ 2014 L 352, p. 1).
1 Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution (OJ 2016 L 26, p. 19).