FINANCIAL SERVICES : CEBS PUBLISHES ADVICE ON COMMODITIES SUPERVISION.

PositionCommittee of European Banking Supervisors - Brief article

On 4 January 2007, the Committee of European Banking Supervisors (CEBS) published its first advice on prudential supervision of commodities firms.

Two FSAP directives - Markets in Financial Instruments Directive (MiFID) and the Capital Requirements Directive (CRD) - will bring some types of currently unregulated commodities business under their ambit. Both directives therefore require the Commission to look at whether a specific supervisory regime should be set up to cover such business. As a first step, the Commission, in August 2006, asked CEBs to look into if and how such business is currently supervised in member states.

CEBS was mandated to provide a survey on existing supervisory practices by December 2006. A further survey on the prudential risks arising from the conduct of commodities business will be delivered by April 2007.

A questionnaire was sent the EU member states and Norway, Liechtenstein and Iceland). Information was also collected on the prudential supervision in...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT