The Interim Working Committee on Financial Conglomerates (IWCFC) received the third call for technical advice from the European Commission. The Commission services is requesting the IWCFC to conduct a stocktake to assess of practices implemented in the Member States. The IWCFC has already delivered
advice with respect to cross sectoral work on the eligibility of own funds, and the equivalence of financial conglomerates supervision in
Switzerland and in the
US. These contributions providing useful input to the review of the Financial Conglomerates Directive.
The IWCFC invites all interested parties to send their comments to the FCD review to
fcd@c-ebs.org until the end of September 2008.