European regulation - Concern raised on CRD reform

Proposals by the European Commission to revise the capital requirement directive (CRD) and apply it to Solvency II have been attacked by parliamentary rappentour Sharon Bowles, who argued that its implementation would both increase costs and reduce the level of securitisations bought and sold by insurers.

At the start of October, the European Commission proposed reform of the CRD as a "proportionate response to the financial turmoil that we are experiencing", and stated its expectation that