All articles by Thomas McMahon
Thomas McMahon
Call for more clarity on Solvency II
A milestone on the road to making Solvency II a reality appeared to have been reached after key amendments were recently secured yet KPMGs Solvency II director Janine Hawes says the European Parliaments new delay means the implementation date of 1 January 2013 for the regulatory regime will now be unachievable. Solvency II is a new European regulatory regime designed to establish a revised set of EU-wide capital requirements and risk management standards that will replace the current solvency requirements.
AILO fires warning over EU legislation
AILO believes that including similar provisions to those in the Markets in Financial Instruments Directive II (MiFID 2) in the Packaged Retail Investment Products legislation and the Insurance Mediation Directive II would result in a narrower choice of investment products and make it harder for clients to obtain independent financial advice. AILO has written to Sharon Bowles, MEP for South East England and Chair of the European Parliament’s Economic and Monetary Affairs Committee with the warning, highlighting in the letter the damage that might be done by the legislation