Q&A: Sharon Bowles, Econ committee chair, on the Omnibus II trilogues

With an agreement on Omnibus II still to be found, Thomas Whittaker asks Sharon Bowles MEP, chair of the European Parliament’s Economic and Monetary Affairs Committee (Econ), about whether an agreement can be reached and if the January 1, 2014 implementation date for Solvency II is still feasible

The failure of European law-makers to agree a final version of the Omnibus II Directive prior to the European Parliament’s summer recess has fuelled concerns that the full implementation of Solvency II could be delayed.

The Omnibus II trilogues have been plagued by delays and setbacks as the European Parliament, Council of the European Union and the European Commission attempt to reach a compromise on a number of contentious issues including the package of measures to support long-term guarantee