Consolidating supervisor (also said in German, more rarely consolidated supervisory authority)

Term from supervisory law and referring to institutions that operate in several countries or even worldwide. Here, the national supervisory authority responsible for the parent company (group management) must cooperate with the respective supervisory authorities in the countries in which the institution has branches in order to rule out supervisory avoidance. In the event of differing assessments by the local supervisor and the consolidating supervisor, the latter has the final decision-making right under Art. 129, para. 2 of the Banking Directive. – See Banking Supervision, European, International Business Company, Managed Bank, Memorandum of Understanding, Models Task Force, Supervisory Review and Evaluation Process, Subgroup Supervision. – Cf. 2006 Annual Report of BaFin, pp. 45 ff. (corresponding regulations under Basel II; cooperation extending beyond Europe).

Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!
University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/