European Commission adopts Delegated Regulation on RTS on Risk Concentration and Intra-Group Transactions Under FICOD

Orrick - Finance 20/20
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On August 21, 2015, the European Commission published the text of the Delegated Regulation it has adopted on regulatory technical standards (RTS) on risk concentration and intra-group transactions under Article 21a(1a) of the Financial Conglomerates Directive (2002/87/EC) (FICOD).

The draft RTS aim clarify which risk concentration and intra-group transactions at the level of the financial conglomerate should be considered “significant” under Articles 7(2) and 8(2) of FICOD.

The next step will be for the Council of the EU and the European Parliament to consider the Delegated Regulation.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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