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ARTICLE · 06 MARCH 2008

Encouraging Market Discipline Pillar 3

Smith & Williamson
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Pillar 3, which requires firms to provide key data on risks, capital and related management procedures, came into effect on 1 January 2008.

United KingdomFinance and Banking
Natasha Lee
Natasha Lee

Pillar 3, which requires firms to provide key data on risks, capital and related management procedures, came into effect on 1 January 2008.

In accordance with Pillar 3, financial institutions within the scope of Basel II are required to disclose information about their risk exposures and the risk assessment processes. This final pillar came into effect on 1 January 2008.

Pillar 3's purpose is to encourage market discipline by providing the market with key information on an entity's risks, capital and related management procedures. It complements the minimum capital requirements (Pillar 1) and the supervisory review process (Pillar 2).

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