Financial groups and conglomerates

Financial groups and financial conglomerates do not require authorisation as such, but SFMA can make them subject to supervision.

This SFMA page gives applicants and supervised institutions a practical view of the financial groups and conglomerates topic. It explains when a licence, approval, notification or registration may be needed, what information should be prepared, and which changes may require contact with the authority.

Requirements for consolidated supervision

The review focuses on whether the applicant is organised in a way that is suitable for financial groups and conglomerates within the First-time licensing of banks and securities firms area. SFMA will normally look at governance, financial resources, responsible persons, risk controls, compliance arrangements, auditability, outsourcing and whether the planned activity can be carried out without creating avoidable risks for clients, investors, policyholders or market integrity.

Scope of consolidated supervision

After authorisation or registration, ongoing duties remain important. The supervised person or organisation must monitor compliance, provide required reports, notify relevant changes and keep enough records to show that statutory duties continue to be met.

Preparing a complete file

Applicants should keep the submission concise but complete: describe the activity, legal structure, people responsible, control framework, financial resources, relevant documents and any cross-border elements. Where uncertainty remains, the issue should be highlighted early rather than left to emerge during review.