Supervision
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As a binational, integrated financial services provider, Fortis is subject
to different forms of external supervision. The Dutch central bank (DNB) and
the Belgian Banking, Finance and Insurance Commission (BFIC) share the view
that, based on European and national regulations, supplementary cross-border
supervision – in addition to specific national supervision of the different
sectors – needs to be conducted on a Fortis-wide basis. The supervisory
bodies laid down the coordination of their respective regulatory scope in an
agreement in 1996, which was renewed on 28 February 2002.
The new agreement between the regulators stipulates that each will continue
to perform sector supervision of the relevant activities of Fortis entities
in their jurisdiction. Supplementary supervision is exercised jointly by the
bodies. The CBFA has been designated as coordinator, as it supervises the largest
part of Fortis’s operations, measured by total assets and solvency requirements.
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About Fortis
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