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Basel ii and the European Unionís Financial Services Action Plan (FSAP) - Compliance LLC

Compliance LLC today announced that it has launched a new web site and new courses in the Financial Services Action Plan (FSAP) and the Basel ii implementation in the European Union.

Wilmington, DE, April 13, 2007 --( Compliance LLC, a leading provider of Basel ii, Sarbanes Oxley, MiFID and compliance training, executive coaching and consulting in more than 30 countries, today announced the launch of a new web site, that is focused on the interaction between Basel ii and the European Union’s Financial Services Action Plan.

“The Financial Services Action Plan (FSAP) is a huge and ambitious project. Basel ii will be implemented in the European Union via the Capital Requirements Directive (CRD), which is just a part of the FSAP” said George Lekatis, General Manager and Chief Compliance Consultant of Compliance LLC.

“There are 42 original measures in the FSAP. Some are non-legislative, a few are regulations, and there are almost 30 directives. Over 20 of the original measures are likely to affect the financial sector. I can not imagine how we can implement Basel ii in the European Union, if we do not take into account the other directives of the Financial Services Action Plan,” continued George Lekatis.

“We have to implement the requirements of 20 directives, and we simply can not have 20 different projects. In the FSAP there are some really important parts, like:

1. The Capital Requirements Directive / Basel ii
2. The 8th Company Law Directive on statutory audits of annual accounts and consolidated accounts. This directive is called the European Sarbanes Oxley.
3. The Markets in Financial Instruments Directive (MiFID)
4. The Financial Conglomerates Directive
5. The Savings Tax Directive with the significant extraterritorial application
6. UCITS III - undertakings for collective investment in transferable securities
7. The 3rd Money Laundering Directive
8. Solvency II, which is for insurance firms what the Capital Requirements Directive is for banks,” continued George.

“If you visit the web site you will find useful information about the most important directives, the official text, comments, and proposed training courses. Compliance LLC is offering excellent in-company awareness and training courses. This is the first choice for many companies, fully tailored training, presented exclusively for your own people. We will work on your premises or at a venue of your choice, on a fixed fee per day, for teams from 2 to 50. There are special presentations for the Board of Directors and Executive Management, an overview of the directives, and training that can be tailored to your needs,” said Lyn Spooner, Marketing Manager of Compliance LLC.

About Compliance LLC
Compliance LCC is a leading international provider of compliance training, executive coaching and consulting. They work in more than 30 countries, providing excellent personalized solutions to companies and organizations of the private and the public sector.

For further information, contact Lyn Spooner, E-mail:, Tel: +1 (302) 342-8828 Ext 1, or George Lekatis, E-mail:, Tel: +1 (302) 342-8828 Ext 5.

Web sites include:

Download their Consulting and Training Catalog

Download their Compliance Training Catalog for Banks

Contact Information
Compliance LLC
George Lekatis
(302) 342-8828
1220 N. Market Street Suite 804
DE 19801

Lyn Spooner: +1 (302) 342-8828 Ext 1
Cynthia Rast: +1 (302) 342-8828 Ext 2
John Ritt: +1 (302) 342-8828 Ext 3
Elmyra Branley: +1 (302) 342-8828 Ext 4

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