Commission consults on Solvency II Level 2: The Commission is consulting on its Level 2 legislation to implement Solvency II. It has published a working paper that does not intend to prejudge the outcome of the current QIS5 exercise, but sets out the context of the measures and specific questions on policy, markets and products and social and economic impacts. The consultation poses over 50 questions, most of which ask for views on whether the Commission's proposals for rule-making will meet the desired objective. The Commission wants responses by 26 January 2011.