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Directive 2002/87/EC of the European Parliament and of the CouncilShow full title

Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council

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Article 21U.K.Committee

1.The Commission shall be assisted by a Financial Conglomerates Committee, hereinafter referred to as the ‘Committee’.

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[F24. The ESA, through the Joint Committee, may provide general guidelines as to whether the supplementary supervision arrangements of competent authorities in third countries are likely to achieve the objectives of the supplementary supervision as defined in this Directive, in relation to the regulated entities in a financial conglomerate, the head of which has its head office in a third country. The Joint Committee shall keep any such guidelines under review and take into account any changes to the supplementary supervision carried out by such competent authorities.]

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6.The Committee shall be kept informed by Member States of the principles they apply concerning the supervision of intra-group transactions and risk concentration.

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