Monday, 20 June 2011

Solvency II timeline changing - 2014 anyone?

Not sure who the moles are in either London or Brussels, but there appears to be some water-testing ongoing about a soft launch of Solvency II over the weekend, with the FT reporting that "people familiar to the process" have it chalked down for implementation in 2013, but not active until 2014.

I can't quite work out if there is some confusion over transitional measures already in Omnibus II just being regurgitated, or if they have a genuine sniff of a shift in timeline here.

They interestingly note that the French had previously asked for a 2013 launch, with a year's grace on Pillar 1, and that this had made it on to the table at the Commission.

[Apologies in advance if you cannot link through, some of these are subscription/limited access]

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