SIA Submits Comments to the European Commission on the EU Financial Conglomerates Directive

The Securities Industry Association (SIA)* provides comments to the European Commission on the EU Financial Conglomerates Directive (Directive). SIA expresses their deep concerns that the provisions of the Directive that relate to third country supervision of financial entities in the EU with parent undertakings whose head office is outside the European Community are inappropriate and should be removed from the proposal.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.