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Conference The Three Functions in the Financial Sector CSSF objectives for the Working Group

Conference The Three Functions in the Financial Sector CSSF objectives for the Working Group Claude SIMON. ° Promote cooperation between professional organizations - ongoing dialogue - mutual understanding

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Conference The Three Functions in the Financial Sector CSSF objectives for the Working Group

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  1. Conference The Three Functions in the Financial Sector CSSF objectives for the Working Group Claude SIMON

  2. ° Promote cooperation between professional organizations - ongoing dialogue - mutual understanding ° Understand the commonalities, differences and interactions between Compliance, Risk Management, Internal Audit ° Translation of High Level Principles defined by the authorities into day-to-day management - take on board the industry's point of view - different solutions for different types of organizations and business models - contribute to a better understanding of rules - promote the importance and efficiency of the 3 functions - contribute to a more consistent application of rules 2

  3. Forthcoming regulation: Capital Regulatory Directive, MIFID, Market Abuse Directive - seek further input from the industry for better impact assessment - develop structured dialogue with the supervisor - foster ongoing dialogue between professional organizations 3

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