Conference on Financial Conglomerates (28.06.2012)
On 28 June the European Commission hosted a conference on financial conglomerates. The conference is an integral part of fact-finding on the regulatory framework applicable to financial conglomerates. It allowed for a wide public hearing devoted to the review of financial conglomerates' legislative framework. It aimed to contribute to a fundamental review of the objectives and features of the current Financial Conglomerates Directive (FICOD). Depending on the final outcome of the FICOD review, a proposal for an amendment of the FICOD directive might be tabled in 2013 with a view to further harmonising the definition of conglomerates, the scope of supplementary supervision and the powers available to supervisory authorities.