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EU Financial Conglomerates Directive 2002/87 (FICOD) - Supplementary Supervision

Directive 2002/87/EC (FICOD) establishes supplementary supervision of credit institutions, insurance undertakings, and investment firms that form part of…

What EU Financial Conglomerates Directive 2002/87 (FICOD) - Supplementary Supervision requires

Directive 2002/87/EC (FICOD) establishes supplementary supervision of credit institutions, insurance undertakings, and investment firms that form part of a financial conglomerate - a group with significant cross-sector activity (>10% in the smaller sector or >40% of total balance sheet). It requires consolidated capital adequacy, intra-group transaction monitoring, risk concentration limits, and appointment of a group-level supervisor coordinator. Amended by FICOD I (2011/89/EU) and updated by Omnibus II (2014/51/EU).

Pillar: Banking & Global Finance · Authority: European Parliament and Council of the European Union · Version: 1.2.1 · Last updated:

Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32002L0087

SHA-256 integrity: 84868f66323ed9a1a8696a3562fb7095309d2d23c668a5b9ca3540f4fd8d4e37

Primary Citations — 5 traced to source

  • {"title":"Directive 2002/87/EC of the European Parliament and of the Council on financial conglomerates (FICOD)","url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32002L0087","section":"Arts 2 (definitions), 4-8 (identification, coordinator, capital, intra-group, concentration), 10 (coordinator)"}
  • {"title":"Directive 2011/89/EU amending FICOD (FICOD I)","url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32011L0089","section":"Amended Art 2 (MFHC definition), Art 6 (capital adequacy update), Art 9 (internal controls)"}

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