The Financial Conglomerates Directive aims at the supplementary supervision
of regulated entities that form part of a financial conglomerate, i.e. groups
with licenses in both the banking and the insurance sector, by focusing on
potential risks of double gearing (multiple use of capital) and on “group risks”
(the risks of contagion, management complexity, risk concentration, and
conflicts of interest).
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.
The new rules were adopted by the EU in November 2011 and entered into
force on December 09, 2011
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.
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)
 
|
| 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
|
| 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
| 16.12.2002 |
Directive 2002/87/EC on the supplementary supervision of credit
institutions, insurance undertakings and investment firms in a financial
conglomerate |
Decision process
|
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