Of Special Interest

7th October 2012

EIOPA pushes Barnier on Solvency II timetable clarification

EIOPA chairman Gabriel Bernardino has written to European Commissioner Michel Barnier saying EIOPA "are seriously concerned about the lack of a clear snd credible timetable for the implemention" of Solvency II.
He added that the uncertainties had wider consequencies, undermining EU credibility in international discussions.
Once a timetable is agreed, Bernardino said that a reflection should be made on the possibility of earlier implementation of some Solvency II elements to address concerns, including prolonging the inadequate Solvency I regime.