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The Financial Conglomerates Directive (FCD) included a provision to review its working by 2007. However, this has now been extended to 2009 in the light of the implications of the financial turmoil. The Review will focus on three areas: some definitions, the extent of the scope of the Directive and internal control mechanisms.
The FCD introduced group-wide supervision of financial conglomerates and requires closer co-operation and information sharing among supervisory authorities across sectors. It attempted to align the rules for financial conglomerates with those for homogeneous financial groups (dealing in a single financial sector, such as banking), given the accelerating consolidation in the financial services sector, creating cross-sectoral financial groups with activities in both the banking/investment services and insurance sectors.

 






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Financial Conglomerates - 20141 articles out of 1.

Financial Conglomerates - 20031 articles out of 1.

2002 Financial Conglomerates
2002-12-01 CONGLOMERATES OVERVIEW
2002-11-20 DIRECTIVE ON FINANCIAL CONGLOMERATES ADOPTED
2002-11-05 EP Committee approved Directive on Financial Conglomerates
2002-09-18 Council Common Position on Financial Conglomerates
2002-05-08 Council reached political agreement on Financial Conglomerates
2002-03-14 EP adopted Directive on Financial Conglomerates (1st reading)
2002-02-25 EP Committee adopted Conglomerates Directive (1st reading)
2002-02-13 EMAC presents Draft Report on Financial Conglomerates

Prior Years Reports


Financial Conglomerates - 20019 articles out of 9.

Financial Conglomerates - 20001 articles out of 1.