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CEBS, CEIOPS and CESR's Joint Guidelines for the Assessment of Mergers and Acquisitions
The Committee of European Banking Supervisors (CEBS), the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and the Committee of European Securities Regulators (CESR) today publish their guidelines for the prudential assessment of acquisitions and increases in holdings in the financial sector as required by Directive 2007/44/EC.
CEBS Amends its Consultation Practices
CEBS amended the Public Statement of Consultation Practices, which was submitted for a three-month public consultation on 19 March 2007. This amendment foresees the procedures to be followed in case of a limited or drafting amendment to CEBS products.
CEBS Standardises COREP Reporting Dates
CEBS today publishes an amendment to the Guidelines on Common Reporting (COREP) on the standardisation of remittance dates and reporting frequencies for COREP reporting in the European Union. This amendment is CEBS's response to the industry and ECOFIN requests for more harmonization in the supervisory reporting in the European Union. This amendment will be implemented in 2012.
The 3L3 Committees Publish Revised Impact Assessment Guidelines
The Committee of European Banking Supervisors (CEBS) together with the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and the Committee of European Securities Regulators (CESR) are publishing today as a practical tool to help ensure the effective use of Impact Assessment (IA) within the three Lamfalussy Level 3 Committees (CESR, CEBS and CEIOPS). They are consistent with the European Commission's approach to Better Regulation and, specifically, with the EC's own IA Guidelines, though adapted to reflect the more specialised nature of financial services policy and the specific circumstances in which it is developed within the EU.