Group supervision stalls

The EU Presidency compromise text on Solvency II omits group rules

Europe’s cross-border firms will have to wait until the EU Presidency transfers to France in July before controversial group supervision proposals have a hope of moving on. Last month, the European Council and the European Parliament published a proposed EU Presidency compromise text for the Solvency II directive but it omitted further detail on group supervision proposals, stating that the issue is “still under discussion”.