Once again, finalisation of the Omnibus II Directive, which is expected to effect certain changes to the Solvency II Directive, has been postponed. On 12 October 2012, the European Parliament updated its online procedure file to confirm that the Parliament’s vote on the draft text of Omnibus II is to be postponed from November 2012 until March 2013. This month, Gabriel Bernardino, European Insurance and Occupational Pensions Authority (EIOPA) Chairman, was also reported (in the Wall Street Journal) to have indicated that Solvency II, in a best case scenario, could be implemented in 2015 or (more likely) 2016. On 4 October 2012, the EIOPA Chairman wrote to the European Commission, urging that a realistic decision be reached regarding a timetable for implementation of Solvency II as soon as possible.