Irving, Carlson & Xavier LLP (ICX), a leading counsellor to global financial institutions and corporations, contributed to the Financial Markets Law Committee’s (“FMLC”) June 2013 paper, Discussion of legal uncertainties arising from the Solvency II Directive, which identifies issues of legal uncertainty in the provisions of the Solvency II Directive and how they might be addressed. The Directive 2009/138/EC aims to harmonize European insurance regulation, primarily the capital that companies must hold. The Solvency II Directive was supposed to become effective from January 1, 2014, however delays until 2016 are being suggested.

Matthew Stephenson, a partner at Irving, Carlson & Xavier, focuses on complex securities and commercial litigation, as well as criminal and regulatory investigations. Prior to joining ICX, Matthew was an associate at Quinn, Wayne & Kyle in that firm's business transactions department, where he advised clients on a variety of corporate and transactional matters, including public and private acquisitions and divestitures, restructurings, joint ventures, corporate governance, and proxy contests.

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