special standard of care

Special Data Dissemination Standard | SDDS | special standard | more demanding standard

Special Data Dissemination Standard | SDDS [Abbr.]

Special Data Dissemination Standard | SDDS [Abbr.]

Special Data Dissemination Standard [ SDDS | Standards for the dissemination by countries of economic and financial statistics ]

Common Standard on Reporting and Due Diligence for Financial Account Information [ Common Reporting Standard ]

The Committee instead suggests fine-tuning the approach set out in the regulation by laying down special rules for critical benchmarks, thus accompanying the more general principles with a set of detailed principles which can take account of the various categories of benchmarks and the potential risks associated with them.

However, like any general rule, the right of access to documents thus provided for may be defined, extended or, on the contrary, limited or even excluded – according to the principle that a special rule derogates from the general rule (lex specialis derogat legi generali) – where there are special rules governing specific matters (judgments of 5 April 2005 in Case T-376/03 Hendrickx v Council, paragraph 55; of 14 July 2005 in Case T-371/03 Le Voci v Council, paragraph 122; and of 20 January 2011 in Case F-121/07 Strack v Commission, paragraph 65, which is the subject of two appeals pending before the General Court of the European Union ...[+++], Case T-197/11 P and Case T-198/11 P).

Those internationally recognised valuation standards contain high level principles which require creditors, amongst others, to adopt and adhere to adequate internal risk management and securities management processes, which include sound appraisal processes, to adopt appraisal standards and methods that lead to realistic and substantiated property appraisals in order to ensure that all appraisal reports are prepared with appropriate professional skill and diligence and that appraisers meet certain qualification requirements and to maintain adequate appraisal documentation for securities that is comprehensive and plausible.

Those internationally recognised valuation standards contain high level principles which require creditors, amongst others, to adopt and adhere to adequate internal risk management and securities management processes, which include sound appraisal processes, to adopt appraisal standards and methods that lead to realistic and substantiated property appraisals in order to ensure that all appraisal reports are prepared with appropriate professional skill and diligence and that appraisers meet certain qualification requirements and to maintain adequate appraisal documentation for securities that is comprehensive and plausible.