The Financial Services Authority (FSA) has divided the dates for Solvency II. January 1st 2013 remains the date at which the responsibilities of supervisors would be switched on. February 1st 2014 is when the Solvency II requirements would be switched on for firms.
The FSA expects to receive applications from all Solvency II firms from January 2013. The FSA stresses that it is key for all participants to remember that the changes made to the timing does not mean a delay of a year, and urges all parties to maintain the momentum and to stay focused on implementation.
Insurance Newsletter Issue 6
© FSA - Financial Services Authority
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