FICOD reporting refers to the reporting and regulation of financial conglomerates within the European Union, as set out in the EU’s Financial Conglomerates Directive (FICOD). Financial conglomerates are corporate groups that operate in various areas of the financial sector, such as banking, insurance and securities trading. Due to their size and complexity, they are subject to special regulatory requirements designed to ensure the stability of the financial system and minimise systemic risks. 

FICOD (Directive 2002/87/EC) was introduced to enable consolidated supervision of these financial conglomerates. It specifies how supervisory authorities should collect and exchange information about the structure, financial situation, and risk positions of financial conglomerates. The aim is to obtain a comprehensive picture of the risks that may arise from the com-bination of different financial services within a conglomerate. FICOD reporting is an important component of financial regulation in the EU and helps to ensure the stability and integrity of the financial system. Through consolidated supervision and comprehensive reporting requirements, supervisory authorities can identify potential risks at an early stage and take ap-propriate measures to mitigate them. 

Under the dedicated supervisory framework, financial conglomerates are assessed with regard to the four supplementary elements addressed by FICOD (2002/87/EC), in line with the SSM operational guidance particular to financial conglomerates: capital adequacy, risk concentrations, intra-group transactions and governance. The assessment looks at aspects specifically to do with financial conglomerates from a banking supervision angle and insurance supervision angle. FICOD reporting serves as one of the sources of information gathering. New implementing technical standards (ITS) covering dedicated reporting templates on risk concentration and intra-group transactions under FICOD entered into force as of 31 December 2023. European supervisors published a guide on financial conglomerate reporting in autumn 2023 and enacted reporting decisions specific to financial conglomerates on the basis of that guidance.