The Solvency II Directive – UK implementation

The FSA, before its abolition in 2013, consulted in 2011 and 2012 on its implementation of Solvency II in the UK. Its general approach, labelled ‘intelligent copy-out’, reflected the reduced national discretion and the need for consistency with directly binding (DA, ITS etc.) European regulation:

In parallel with the FSAs consultations the Treasury consulted on its transposition of Solvency II, through amendments to FSMA and other legislation: