ECIIA speaks out in response to the consultation paper of the European Banking Authority on Internal Governance

Submitted by Amra Alagic on 27 January, 2011 - 10:22

27/01/2011

News 14 January 2011: ECIIA speaks out in response to the consultation paper of the European Banking Authority on Internal Governance. (Read more ECIIA document Comments on EBA – CEBS consultation n. 44).

The paper addresses important aspects of internal governance including corporate structure and organization, responsibilities and roles of the management body, risk management principles, internal control effectiveness, systems and continuity, and transparency. Among the suggestions offered by the ECIIA is the increased focus on the Three Lines of Defense framework.

*The EBA (European Banking Authority) established by the European Parliament in November 2010, provides advice to the EU institutions in the areas of banking, payments and e-money regulation as well as on issues related to corporate governance, auditing and financial reporting. Learn more on CEBS Guidebook on Internal Governance.