| |
The Financial Conglomerates
Directive
from the
Basel
ii Compliance Professionals Association (BCPA)
the largest Association
of Sarbanes Oxley professionals in the
world
SECTION 3: MEASURES TO FACILITATE
SUPPLEMENTARY SUPERVISION
Article 10
Competent authority responsible for
exercising supplementary supervision (the coordinator)
1. In order to ensure proper supplementary supervision
of the regulated entities in a financial conglomerate, a single
coordinator, responsible for coordination and exercise of
supplementary supervision, shall be appointed from among the
competent authorities of the Member States concerned, including those of
the Member State in which the mixed financial holding company
has its head office.
2. The appointment shall be based on the following
criteria:
(a) where a financial conglomerate is headed by a
regulated entity, the task of coordinator shall be exercised by the
competent authority which has authorised that regulated entity
pursuant to the relevant sectoral rules;
(b) where a financial conglomerate is not headed by a
regulated entity, the task of coordinator shall be exercised by the
competent authority identified in accordance
with
the following principles:
(i) where the parent of a regulated entity is a mixed
financial holding company, the task of coordinator shall be
exercised by the competent authority which has authorised that
regulated entity pursuant to the relevant sectoral
rules;
(ii) where more than one regulated entity with a head
office in the Community have as their parent the same mixed
financial holding company, and one of these entities has been
authorised in the Member State in which the mixed financial
holding company has its head office, the task of coordinator shall
be exercised by the competent authority of the regulated entity
authorised in that Member
State.
Where more than one regulated entity, being active in
different financial sectors, have been authorised in the Member State in
which the mixed financial holding company has its head
office, the task of coordinator shall be exercised by the competent
authority of the regulated entity active in the most important
financial sector.
Where the financial conglomerate is headed by more
than one mixed financial holding company with a head office in
different Member States and there is aregulated entity in each of
these States, the task of coordinator shall be exercised by the
competent authority of the regulated entity with the largest balance
sheet total if these entities are in the same financial sector, or
by the competent authority of the regulated entity in the most
important financial sector;
(iii) where more than one regulated entity with a head
office in the Community have as their parent the same mixed
financial holding company and none of these entities has been
authorised in the Member State in which the mixed financial
holding company has its head office, the task of coordinator shall
be exercised by the competent authority which authorised the
regulated entity with the largest balance sheet total in the most
important financial sector;
(iv) where the financial conglomerate is a group
without a parent undertaking at the top, or in any other case, the
task of coordinator shall be exercised by the
competent
authority which authorised the regulated entity with
the largest balance sheet total in the most important financial
sector.
3. In particular cases, the relevant competent
authorities may by common agreement waive the criteria referred to
in paragraph 2 if their application would be inappropriate, taking
into account the structure of the conglomerate and the relative
importance of its activities in different countries, and appoint a
different competent authority as coordinator.
In
these cases, before taking their decision, the competent authorities
shall give the conglomerate an opportunity to state its opinion on
that decision.
Certified Basel
ii Professional (CBiiPro) - Distance Learning and Online
Certification Program
The Cost: US$ 297
What is
included in this price:
A. The official presentations we use
in our instructor-led classes (1880 slides)
B. Up to 3 Online
Exams
There is only one exam you need to pass, in order to become
a Certified Basel ii Professional (CBiiPro). If you fail, you must
study again the official presentations, but you do not need to spend
money to try again. Up to 3 exams are included in the
price.
To learn more you may visit:
www.basel-ii-association.com/Questions_About_The_Certification_And_The_Exams_1.pdf
www.basel-ii-association.com/Certification_Steps_CBiiPro.pdf
C. Personalized Membership
Certificate printed in full colour.
Processing, printing,
packing and posting to your office or home
To start is easy.
We will follow the steps described at:
www.basel-ii-association.com/Distance_Learning_Online_Certification.htm
MORE
INFORMATION ABOUT THE OFFICIAL PRESENTATIONS
We will
send you 3 emails.
The first email (704 slides) covers all
the presentations that are needed for the CBiiPro Exam. All the
questions of the exam are based on these slides.
You can find
the course synopsis at:
www.basel-ii-association.com/Certified_Basel_ii_Professional.htm
We also cover the Enhancements to
the Basel II framework, July 2009, Supplemental Pillar 2
Guidance
(Supervisory Review Process) from the Bank for
International Settlements
The second and the third emails
cover the implementation of the Basel ii framework in the United
States of America and the European Economic Area. There
presentations are especially important for professionals working in
multinational or large financial organizations.
These
presentations are:
- Basel II in the United States of America
(235 slides)
- The Capital Requirements Directive of the
European Union (426 slides)
The Capital Requirements
Directive (CRD) is the common framework for the implementation of
Basel ii in European Union.
If you understand the Capital
Requirements Directive (CRD), you can work not only for the
implementation of the Basel ii framework in the 27 countries of the
European Union, but also around the world for multinational banks
and financial organizations with European operations.
The
presentations not only cover the European directives, but also
include topics like: Hedge Funds and the Capital Requirements
Directive, Securitization and the Capital Requirements
Directive.
- Regulatory Arbitrage after Basel ii (233
slides)
- The Financial Conglomerates
Directive (183 slides)
QUESTION:
Why in a Basel ii
certification program we need to understand the Financial
Conglomerates Directive?
ANSWER:
Because we have a very
different Basel ii implementation in each of the following
structures:
A. The bank is the regulated entity at the head of
the group
B. The bank is under a mixed financial holding company
(MFHC)
C. The bank is under a financial holding company
(FHC)
D. The bank is under an insurance holding company
(IHC)
Only the first 704 slides (first email), that cover the
Basel ii principles, are needed for the
exam.
To find more:
www.basel-ii-association.com/Distance_Learning_Online_Certification.htm
|
| | |
