1 September 2017
By MarketVoice Staff
On Sept. 20, the European Commission published a package of proposals to strengthen the European system of financial supervision. The proposals aim to improve the mandates, governance and funding of the three European supervisory authorities and the functioning of the European Systemic Risk Board, which should ensure stronger and more integrated financial supervision across the EU. Key features of the proposal include:
The texts are now under review by the European Parliament and European Council, a process expected to take 12-18 months.
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