Solvency II News: Solvency II Delegated Acts to be adopted today

The European Commission will today (Friday 10/10/2014) adopt the Solvency II Delegated Acts. A technical briefing will be broadcast live at 12.30 CET on the Commission’s audiovisual website. The Delegated Acts should have been published by the end of September, according to draft minutes of the meeting of the Expert Group on Banking, Payments and Insurance (Insurance formation) held on 26 March 2014. The minutes, seen by Solvency II Wire, state, “The Commission intends to adopt them [the Delegated Acts] in July 2014 or at the latest in September 2014 to cater for the 3+3 months period for possible objections by the co-legislators.” If the full objection period is used this could mean the text would only be adopted on 9 April 2015, eight days after the transposition date set in the Directive (1 April 2015). It is not clear what the implications for the timeline will be. The European Parliament has started organising to receive the text. According to an EP source the team will be headed by Roberto Gualtieri MEP. Catherine Stilher MEP will be the new Solvency II Rapporteur. Shadows include: Burkhard Balz, Ashley Fox, Sven Giegold, Philippe De Backer (or Sylvie Goulard) and Marisa Matias. — To subscribe to the Solvency II Wire mailing list for free click here.]]>