Presidency compromise text for the Omnibus II Directive

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By William Coatesworth, John McKenzie, Neil Cantle | 11 April 2011

The Presidency compromise text for the Omnibus II Directive, amending the original text issued earlier this year by the Commission, proposes significant changes to the timetable for submission of draft technical standards. With the implementation date retained at 1 January 2013, it appears likely that companies will have to move to a Solvency II regime without final guidance being in place.