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Solvency II is a fundamental review of the capital adequacy regime for the European insurance industry. It aims to establish a revised set of EU-wide capital requirements and risk management standards that will replace the current solvency requirements.
The vote by the Economic and Monetary Affairs Committee of the European Parliament (ECON) on the Parliament's proposed compromise amendments to the Omnibus II Directive took place on 21 March 2012. These amendments will be subject to further discussion as part of the trialogue process between the European Commission, Council and Parliament.
FSA publishes questions and answers from its industry briefing.