Solvency II News: Parliament will not object to the Solvency II Delegated Acts

At a meeting held yesterday (3 December 2014) members of the ECON negotiation team decided not to object to the Solvency II Delegated Acts, an EP source told Solvency II Wire. “The decision taken was not to extend the scrutiny period beyond the initial three months,” the source said. However, the Parliament will write to the Commission “[to] seek commitments moving forward”, the source said. On 20 November Solvency II Wire revealed that a broad consensus was emerging against requesting the extension. A number of sources have now also confirmed that the Council has already notified the Commission of its decision not to object to the text. The decision by the co-legislators removes any obstacles to the text entering into force.        ]]>