Commission looks to review clause to close deal on Omnibus II
Extensive safeguards and supervisory controls to be built in to Solvency II long-term guarantees package, says Commission’s insurance head
Extensive safeguards are to be built in to Omnibus II's long-term guarantees (LTG) package in a bid to allay concerns that the calibration of some of the measures might prove unsuitable, according to the head of the European Commission's insurance and pensions unit.
Klaus Wiedner reveals European policy-makers are working on the fine details of a clause that sets the time for a review to be carried out of Omnibus II and amendments to the directive to be discussed, as well as control mechanisms
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