The European Commission recently responded to the letter from the Chair of the Parliament’s Committee on Economic and Monetary Affairs (ECON) relating to the European Commission’s Delegated Regulation supplementing the Solvency II Directive (2009/138/EC).

The European Commission was pleased to learn that the Parliament and the Council of the EU accepted the Delegated Regulation without requesting an extension of the scrutiny period and that there is a call for a review of the calibration of capital requirements on infrastructure investments.

With respect to the European Insurance and Occupational Pensions Authority (EIOPA), a report will be adopted on its resources in order to determine budgetary requirements and the issue of financing of the European Supervisory Authorities (ESAs) generally.

The delegated Regulation was published in the Official Journal of the EU (OJ) on 17 January 2015, and came into effect on 18 January 2015. A copy of the Delegated Regulation can be found here: http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:JOL_2015_012_R_0001 &from=EN

A copy of the European Parliament’s letter can be found here:http://www.polcms.europarl.europa.eu/cmsdata/upload/4909add7-436e-40b7-9648-a38aab2f1e4f/Solvency%20II%20DA%20-%20Response%20from%20COM%20-%2027.01.2015.pdf