On 12 January 2012, a vote by the Economic and Monetary Affairs Committee of the European Parliament on the Omnibus II Directive was delayed until 21 March 2012. When adopted, Omnibus II will make significant changes to the Solvency II Directive. The vote had previously been rescheduled from 20 December 2011 to 24 January 2012.

This delay may put pressure on the remaining timetable for the implementation of Solvency II, which was originally due to come into force at the end of October 2012 but is currently scheduled to do so on 1 January 2014. There has been speculation from the media and industry that the delay means that implementation will not now happen until 2015, although this has been denied by a spokesperson for the European Commission. The UK Financial Services Authority has stated that it has no information to suggest that the 2014 implementation date would change.