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The Financial Conglomerates
Directive
from the
Basel
ii Compliance Professionals Association (BCPA)
the largest Association
of Sarbanes Oxley professionals in the
world
SECTION 4: THIRD COUNTRIES
Article 18
Parent undertakings outside the
Community
1.
Without prejudice to the sectoral rules, in the case referred to in
Article 5(3), competent authorities shall
verify whether the regulated entities,
the parent undertaking of which has its head office outside the
Community, are subject to supervision by a third-country competent
authority, which is equivalent to that provided for by the
provisions of this Directive on the supplementary supervision of
regulated entities referred to in Article 5(2).
The verification shall be carried
out by the competent authority which
would be the coordinator if the criteria set out in Article 10(2)
were to apply, on the request of the parent undertaking or of any of
the regulated entities authorised in the Community or on its own
initiative.
That
competent authority shall consult the other relevant competent
authorities, and shall take into account any applicable guidance
prepared by the Financial Conglomerates Committee in accordance with
Article 21(5). For this purpose the competent authority shall
consult the Committee before taking a
decision.
2.
In the absence of equivalent
supervision referred to in paragraph 1,
Member States shall apply to the regulated entities, by analogy, the
provisions concerning the supplementary supervision of regulated
entities referred to in Article 5(2). As an alternative, competent
authorities may apply one of the methods set out in paragraph
3.
3.
Member States shall allow their competent authorities to apply other
methods which ensure appropriate supplementary supervision of the
regulated entities in a financial conglomerate.
These methods must be agreed by the coordinator, after
consultation with the other relevant competent
authorities.
The competent authorities
may in particular require the
establishment of a mixed financial holding company which has its
head office in the Community, and apply this Directive to the
regulated entities in the financial conglomerate headed by that
holding company.
The
methods must achieve the objectives of the supplementary supervision
as defined in this Directive and must be notified to the other
competent authorities involved and the
Commission.
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
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