In his speech to the EUROFI Conference in Nice, Commissioner for Internal Markets, Charlie McCreevy said that discussions on the proposed Solvency II Framework Directive have been progressing in both the European Council and Parliament. There are only a few issues remaining to be resolved and McCreevy assured his audience that he had every confidence that resolutions to these issues were to be found over the coming months. Among the issues yet to be resolved are group supervision and group support.

Discussions in the Parliament are currently at an advanced stage. A vote in the ECON Committee is planned for early October and a vote in Plenary in November.

For further information: Commissioner McCreevy updates the market on Solvency II