FSA Calls for industry input Into Solvency II level 3 text


LONDON - As the level-one text for the Solvency II Directive - the European risk-based regime for insurers - has now been approved by the European Parliament, and the level-two text is due to be written by October this year, the UK Financial Services Authority's Operational Risk Expert Group (OREG) has been running two subgroups (P1 and P5) in order to get the industry's input on what should be contained in the level-three text.

The P5 subgroup has been concentrating on two consultation papers

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