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 email@example.com until the end of September 2008.