CMVM
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International activity

CMVM international activity


Participation in International committees and working groups

European Commission/ European Council

 

    • European Systemic Risk Board

    This Committee is tasked with identifying and assessing measures for preventing and mitigating systemic risk and financial stability in the EU.  The CMVM Chair is a member of the General Council, that decides on recommendations and warning to be issued concerning the financial system.

    •  Audit Regulatory Committee

    Under the Directive on statutory audit, the European Commission may adopt various implementing measures, using the comitology procedure. In doing so, the Commission will be assisted by Audit Regulatory Committee, composed of the representatives of the Member States.

    • ARC - Accounting Regulatory Committee

    The Accounting Regulatory Committee (ARC) is composed of representatives from Member States and chaired by the European Commission. The Committee has been set up by the Commission in accordance with the requirements contained in Article 6 of the IAS Regulation (EC/1606/2002). The function of the Committee is a regulatory one and consists in providing an opinion on the Commission proposals to adopt an international accounting standard as envisaged under Article 3 of the IAS Regulation.


    • EGAOB - European Group of Auditors’ Oversight Bodies

    The European Commission set up a "European Group of Auditors' Oversight Bodies" (EGAOB). The Group will ensure effective coordination of new public oversight systems of statutory auditors and audit firms within the European Union. It provides technical input to the preparation of possible measures of the Commission implementing the Directive on statutory audit, such as endorsement of the International Standards on Auditing or assessment of third countries' public oversight systems.

    • Company Law Expert Group

    The Expert Group on Company Law consists advises the EU on company law. The Group aids in the improvement of Company Law and Corporate Governance in Europe, particularly the revision of the Directive on Shareholders' Rights.

    • FIN-NET

    FIN-NET is a financial dispute resolution network of national out-of-court complaint schemes in the European Economic Area countries (the European Union Member States plus Iceland, Liechtenstein and Norway) that are responsible for handling disputes between consumers and financial services providers, i.e. banks, insurance companies, investment firms and others. This network was launched by the European Commission in 2001.