Supplementary supervision of credit institutions, insurance or reinsurance undertakings, investment firms, asset management companies and alternative investment fund managers in a financial conglomerate (codification)
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With the European Parliament, which is preparing its first-reading position.
Last active 12 Mar 2026
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What this bill does
In plain terms: what it changes and who it affects.
It sets common EU rules for extra supervision of financial groups that combine banking, insurance, investment, asset management, or fund management businesses.
Who it affects
It affects financial conglomerates and the regulated firms inside them, especially groups with significant cross-sector financial activities. It also affects mixed financial holding companies and, in some cases, third-country groups with EU regulated entities.
Core of the proposal
- Applies supplementary supervision to groups meeting size and sector-significance thresholds.
- Requires capital adequacy, risk concentration, and intra-group transaction monitoring at group level.
- Requires sound group-wide governance, risk management, internal controls, and public disclosure of structure.
- Assigns a coordinator and requires cooperation, information exchange, and stress testing among authorities.
Key provisions
- Takes effect
- It enters into force on the twentieth day following publication in the Official Journal of the European Union.
- Transitional law
- It repeals Directive 2002/87/EC, without affecting Member States’ existing transposition deadlines and application dates in Annex III.
Articles changed · 1 across 1 law
- Directive 2002/87/EC (32002L0087)
- entire act: repeals the entire directive and replaces it with a codified directive
Latest update
05 Jun 2026The most recent development in this bill's progress.
1st reading – European Parliament → Trilogues (interinstitutional negotiations)
1st reading – European Parliament → Trilogues (interinstitutional negotiations)
Documents
1 recentSourcesOEILEUR-LexEU Law Tracker