The European Association of Co-operative Banks (EACB) welcomes the opportunity to comment on the JCFC’s consultative document comprising of its “Proposed response to the European Commission’s Call for Advice on the Fundamental Review of the Financial Conglomerates Directive”. In general, EACB welcomes the review of the Financial Conglomerates Directive (FiCoD). The FiCoD is now implemented for more than 10 years. The recent developments in the international and European regulatory frameworks for banking and insurance sectors may have to be reflected on.
For the position paper please download the PDF