Wednesday, 15 June 2011

Barnier Letter to CEA/CRO Forum/CFO Forum - full text

Bit late, but for my own records I'm just making sure I have Michel Barnier's full response to the lobbying forums on the blog (previously only had an abridged version).

Few notes;
  • Solvency II "has been subject to more consultation and impact studies than any other piece of legislation I am aware of" - referenced like a badge of honour, as opposed to any negative connotations
  • "Not surprising" that surplus capital has declined - is the implication that the industry is undercapitalised
  • Commission is not convinced by lobbyists argument on contract boundaries in particular

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