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Conference The Three Functions in the Financial Sector CSSF objectives for the Working Group - PowerPoint PPT Presentation


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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

Claude SIMON


° 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

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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

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