Another delay in Solvency II as EC proposes deferral of transposition date
Commission takes legal advice on Econ committee proposals
The European Commission is to propose that the transposition date of Solvency II into national law should be postponed for six months to June 30, 2013 because of the slow progress in finalising the Omnibus II Directive.
But the commission insists that the implementation date of January 1, 2014 will remain.
The commission is concerned that Omnibus II may not be adopted until the end of 2012, giving member states insufficient time to transpose the directive by January 1, 2013 as currently proposed
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