By way of European Parliamentary notice, it has recently been
announced that the plenary vote on the Omnibus II Directive (which
itself amends the Solvency II Directive and contains the proposed
revised start date for the Solvency II Directive) has been
rescheduled and will now take place on 2 July 2012 instead of 17
April 2012 as reported in our previous update.
This change was expected in order to align with the ECON vote on
21 March 2012 and to allow for sufficient time for the negotiations
to take place between the Parliament, the Commission and the
Council of Ministers.
It is important to note, that despite this delay, the Commission
has stated that the overall implementation timetable for Solvency
II remains unchanged, while the Central Bank stated that it is
currently working on the following assumptions:
