On 6 September 2013, the European Parliament (the Parliament) updated its procedure file on the proposed Omnibus II Directive, postponing its plenary sitting on Solvency II changes from October 2013, to its 3 to 6 February 2014 session. Omnibus II has been delayed several times already due to on-going discussions between the Parliament, the European Commission and the Council of the EU. Solvency II cannot be finalised until the Omnibus II Directive is agreed. Peter Ott, the European Head of Solvency II at KPMG, commented that: "It needs to be recognised that there will be no single universally accepted solution to the long-term guarantee issue and political compromise must be reached quickly if Solvency II is ever to be finalised".
Further delays to European Parliament's consideration of IMD2 On 12 September 2013, it was confirmed through an update to the European Parliament's procedure file that the Parliament's consideration of the proposed revised Insurance Mediation Directive (IMD2) will now take place from 9 to 12 December 2013; rather than 18 to 21 November 2013 as previously scheduled.