Joint Forum publishes Principles for the Supervision of FInancial Conglomerates

The Joint Forum, which consists of representatives from the Basel Committee on Banking Supervision, the International Organization of Securities Commissions and the International Association of Insurance Supervisors, has published its revised Principles for the Supervision of Financial Conglomerates: see here (pdf). These are more extensive than the so-called '1999 Principles' which they replace. There are, for example, new high level principles concerning corporate governance (in particular the responsibilities of the board and senior management, the treatment of conflicts of interest and remuneration policy).