TheEuropean Parliament today approved the Solvency II framework directive without the contentious group support provisiona development described by CEA, the European insurance/reinsurance federation, as a "missed opportunity."
According to the U.K. Insider newsletter, the parliaments vote came after the Committee of Permanent Representatives (Coreper) endorsed the directive text on April 1. Formal adoption of the framework directive is expected at the Economic and Financial Affairs (ECOFIN) Council meeting, May 5.
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