TRANSLATION DELAYS
May 1st, 2004
BY ALAN OSBORNA NUMBER of key European Union (EU) directives affecting the insurance industry face delays of up to six months because of the failure of EU Council of Ministers secretariat translators to produce legal texts in all 20 official languages of the newly expanded EU. Two directives are directly affected at present - the transparency directive and one involving regulation of insurance, banking and investment funds (UCITS). Instead of coming into force this month, the legislation has now been delayed until the autumn.The delay to these particular two ...
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