Advice on the Fundamental Review of the Financial Conglomerates Directive

We would like to answer specifically to the following questions raised by ESMA: What should be the parameter of supervision, where a financial conglomerate is supervised on a group wide basis? Should Institutions for Occupational Retirement Provision (IORPs) be included as part of a financial conglomerate? We support the First Recommendation of the European Supervisory Authorities to the Call for Advice from the European Commission regarding the inclusion of the Institutions for Occupational Retirement Provision (IORPs) into the scope of the Financial Conglomerates
Directive.

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