The Economic and Monetary Affairs Committee of the European Parliament recently approved changes to the text of the Solvency II Directive. The changes included amendments to the group supervision regime so as to ensure that local supervisors of subsidiaries in a group have a greater role in the overall supervision of that group.

The amended text was approved by the CEA, whose press release can be found by clicking here.

Please see our previous blogs on Solvency II by clicking here and here.