Intelligence Secured is continuing to monitor recent developments surrounding a number of EU directives;

CRD - Capital Requirements Directive (CRD) - is the common framework for the implementation of Basel II in EU & EEA. The CRD makes significant changes to two existing directives that were implemented Basel I (The Banking Consolidation Directive) and The Capital Adequacy Directive (CAD).

The CRD allows for 'options and national discretions' in a number of areas. This is the most important strength and weakness of Basel II and is a great opportunity for countries and banks.

Solvency II Project - represents for the insurance sector what Basel II is for the banking sector: It aims at reviewing the current regime in light of the evolution of the environment (current development in insurance, risk management, finance techniques, financial reporting).

UCITS III (Undertakings for Collective Investment in Transferable Securities) – consists of the following two directives

1) Management Directive – seeks to give management companies a “European Passport” to operate throughout the EU.

2) Product Directive – the primary aim of this directive is to remove barriers to the cross-border marketing of units of collective investment funds.

EU FSAP (European Union Financial Services Action Plan) – ongoing transposition of directives relating to FSAP is being closely scrutinized through The Lamfalussy League Table.

Our training committee is closely monitoring these & other directives in order to develop ongoing enhancements & additional training courses.