Supplementary Supervision

Report on the review of the Financial Conglomerates Directive 2002/87/EC (20.12.2012)

On 20 December 2012 the Commission adopted a report on the review of the Financial Conglomerates Directive.

• Report on the review of the Financial Conglomerates Directive 2002/87/EC
• Commission Staff Working Document accompanying the Report  

Revision of the Financial Conglomerates Directive (16.08.2010)

On August 2010 the Commission proposed to amend existing European rules on the supervision of financial conglomerates.

• Midday express (MEX/10/0816)
• FAQs
• Text of the Proposal  
• Impact Assessment:
  • Executive Summary  
  • Full Text  

The new rules were adopted by the EU in November 2011 and entered into force on December 09, 2011

• Midday express (09.12.2011)
• Final text of the Directive

Conglomerates’ Conference: “The ‘invisibilities’ within the most visible” (07.06.2010)

On 7 June the European Commission hosted a high level one-day conference on the challenge of supervising financial conglomerates. The opening speech delivered on behalf of Commissioner Michel Barnier set out his ideas on how to move forwards, followed by a number of eminent speakers and panellists from different backgrounds who expressed their views about what needed to be done.

• Date: 7 June 2010
• Venue: Alcide de Gasperi Auditorium, Charlemagne Building 170 rue de la Loi – 1000 Brussels, Belgium
• Conference Programme  

• Speeches and presentations

  • Opening Speech  
  • Ángel Santodomingo  
  • Marta Estavillo  
  • Charles Littrell  
     
• Videos of the Conference
   
  • Part 1
  • Part 2
  • Part 3

Consultation regarding the Review of the Financial Conglomerates Directive (06.11.2009)

06.11.2009

Consultation Document Review of Directive 2002/87/EC on the Supplementary Supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate (FCD) Contributions and results

Call for advice no. 3 from IWCFC (Interim Working Committee on Financial Conglomerates)

09.02.2009	Progress Call for Advice no. 3
11.04.2008	Call for technical advice no. 3 from IWCFC on the Review of Financial Conglomerates Directive

Calls for advice from IWCFC (Interim Working Committee on Financial Conglomerates)

12.06.2007	Call for technical advice from IWCFC on supervision in non-Member States: Switzerland and the USA
	Call for technical advice from IWCFC on sectoral rules for capital and analysis of the consequences for supervision of financial conglomerates

Identification of Financial Conglomerates

July 2010	List of groups that have been identified as financial conglomerates
July 2009	List of groups that have been identified as financial conglomerates
Oct. 2008	List of groups that have been identified as financial conglomerates
Nov. 2007	List of groups that have been identified as financial conglomerates
24.04.2006	List of groups that have been identified as financial conglomerates – by country
	List of groups that have been identified as financial conglomerates – alphabetically
11.04.2006	List of groups that have been identified as financial conglomerates – by country
	List of groups that have been identified as financial conglomerates – alphabetically
22.03.2006	List of groups that have been identified as financial conglomerates – by country
	List of groups that have been identified as financial conglomerates – alphabetically
29.07.2005	List of groups that have been identified as financial conglomerates – by country
	List of groups that have been identified as financial conglomerates – alphabetically

Transposition of the Financial Conglomerates Directive

14.11.2005

Issues arising from the transposition, interpretation and implementation of the Directive

Guidance

24.04.2008	Third country supervision and equivalence: European Financial Conglomerates Committee issues updated general guidance to EU supervisors on supervision in Switzerland
24.04.2008	Third country supervision and equivalence: European Financial Conglomerates Committee issues updated general guidance to EU supervisors on supervision in the United States of America
06.07.2004	Third country supervision and equivalence: European Financial Conglomerates Committee issues general guidance to EU supervisors on supervision in Switzerland
06.07.2004	Third country supervision and equivalence: European Financial Conglomerates Committee issues general guidance to EU supervisors on supervision in the United States of America

Legislation

Decision process

20.11.2002	Commission welcomes the European Parliament’s adoption of Directive
20.09.2002	Communication from the Commission to the European Parliament concerning the Common Position of the Council on the adoption of a Directive on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate
07.05.2002	Commission welcomes Council agreements on Market Abuse and Financial Conglomerates Directives
11.04.2002	Follow up of the second mapping exercise on European Union Financial Conglomerates (Summary of the findings by the Mixed Technical Group  )
14.03.2002	Commission welcomes significant progress in European Parliament on Financial Services Action Plan
26.04.2001	Commission proposes Directive on prudential supervision of financial conglomerates Press release Text of the proposition
19.12.2000	Commission launches consultations on regulation of conglomerates Press release Consultation Document