Wednesday, 4 May 2011

Solvency II timeline moving - handbrake off the Omnibus?

As ever, our well connected friends at the Big 4 get the news first, but it would appear that the deadlines for Omnibus II may be stretching even further away from the industry's preference.

With aspects of Levels 1, 2, 3 and EIOPAs "technical implementing standards" still difficult to pin down, this is becoming increasingly fractious and awkward to manage at project level. I have no idea why EIOPA and the Commission have begun moving so many deadlines, but it is certain that the opportunity for reasoned and balanced public consultation on Level 3 and the technical implementing standards has passed if the Jan 1st implemntation date remains unchanged. Very sad.

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