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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
CHAPTER II: SUPPLEMENTARY
SUPERVISION
SECTION 1: SCOPE
Article 5
Scope of supplementary supervision of
regulated entities referred to in Article 1
1. Without prejudice to the provisions on supervision
contained in the sectoral rules, Member States shall provide for the
supplementary supervision of the regulated entities referred to in
Article 1, to the extent and in the manner prescribed in this
Directive.
2. The following regulated entities shall be subject
to supplementary supervision at the level of the financial
conglomerate in accordance with Articles 6 to
17:
(a) every regulated entity which is at the head of a
financial conglomerate;
(b) every regulated entity, the parent undertaking of
which is a mixed financial holding company which has its head office
in the Community;
(c) every regulated entity linked with another
financial sector entity by a relationship within the meaning of
Article 12(1) of Directive 83/349/EEC.
Where a financial conglomerate is a subgroup of
another financial conglomerate which meets the requirements of the
first subparagraph, Member States may apply Articles 6 to 17 to the
regulated entities within the latter group only and any reference in
the Directive to the terms group and financial conglomerate will
then be understood as referring to that latter
group.
3. Every regulated entity which is not subject to
supplementary supervision in accordance with paragraph 2, the parent
undertaking of which is a regulated entity or a mixed financial
holding company, having its head office outside the Community, shall
be subject to supplementary supervision at the level of the
financial conglomerate to the extent and in the manner prescribed in
Article 18.
4. Where persons hold participations or capital ties
in one or more regulated entities or exercise significant influence
over such entities without holding a participation or capital ties,
other than the cases referred to in paragraphs 2 and 3, the relevant
competent authorities shall, by common agreement and in conformity
with national law, determine whether and to what extent
supplementary supervision of the regulated entities is to be carried
out, as if they constitute a financial
conglomerate.
In order to apply such supplementary supervision, at
least one of the entities must be a regulated entity as referred to
in Article 1 and the conditions set out in Article 2(14)(d) and (e)
must be met.
The relevant competent authorities shall take their
decision, taking into account the objectives of the supplementary
supervision as provided for by this
Directive.
For the purposes of applying the first subparagraph to
‘cooperative groups’, the competent authorities must take into
account the public financial commitment of these groups with respect
to other financial entities.
5. Without prejudice to Article 13, the exercise of
supplementary supervision at the level of the financial conglomerate
shall in no way imply that the competent authorities are required to
play a supervisory role in relation to mixed financial holding
companies, third-country regulated entities in a financial
conglomerate or unregulated entities in a
financial conglomerate, on a stand-alone
basis.
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
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To learn more you may visit:
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To start is easy.
We will follow the steps described at:
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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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