Joint Committee on Financial Conglomerates

The Joint Committee on Financial Conglomerates is a regulatory body that oversees and monitors large financial groups composed of different financial institutions, like banks, insurance companies, and investment firms operating together. Its goal is to ensure these conglomerates manage risks effectively and remain stable, protecting consumers and the financial system. The committee coordinates supervision among different regulators, promotes sound risk management practices, and ensures transparency within these complex financial entities, reducing the chance of failures that could impact the broader economy.