On 15 February 2016, the Council of the EU published a press release on the outcome of its ECOFIN (European Economic and Financial Affairs Council) meeting of 12 February.  At that meeting, the decision was taken not to object to the European Commission decisions relating to the equivalence of (a) Bermuda's supervisory regime for (re)insurers and (b) Japan's solvency regime for (re)insurers, for Solvency II purposes.  The decisions will now take effect unless the European Parliament raises an objection.