The Committee of European Banking Supervisors (CEBS) and the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) have published a joint response of CEBS and the Interim Working Committee on financial conglomerates. The joint response deals with the European Commission’s parallel requests for technical advice on its recommendations on whether the supervisory arrangements of the US and Swiss supervisory authorities would achieve the objectives of consolidated and supplementary supervision, as provided for in the Capital Requirements Directive and the Financial Conglomerates Directive.

View Technical advice to the European Commission on the equivalence of supervisory arrangements in Switzerland and the United States with regard to banking/investment groups and financial conglomerates, 22 February 2008