
Lamfalussy committees restate responsibilities
Daily news headlines
LONDON, PARIS & FRANKFURT – The three Lamfalussy committees have responded to a European Commission (EC) consultation paper calling for amendments to their roles of advising the EC, enhancing supervisory co-operation and contributing to consistent implementation of directives.
The three Level 3 committees are the Committee of European Banking Supervisors (Cebs), the Committee of European Securities Regulators (Cesr), and the Committee of European Insurance and Occupational Pensions Supervisors (Ceiops).
The EC document Public consultation paper on amendments to Commission decisions establishing Cesr, Cebs and Ceiops deals with supervisory co-operation and convergence, and financial stability.
The first of these issues is further broken down into points on mediation, the committees’ consultative roles, information exchange, delegation of responsibilities, streamlining reporting requirements, colleges of supervisors, development of a common supervisory culture, cross-sector co-operation, qualified majority voting and annual work programmes.
On financial stability, the response is much briefer, mentioning biannual reporting, committee expertise and regular qualitative assessments. It concludes that the committees prefer a broad reference to financial stability in their mandates, rather than detailed requirements.
The joint Cesr, Cebs and Ceiops response may be downloaded from the following link.
http://www.c-ebs.org/comment_letters/documents/200809013L3ResponsetoCommissionConsultation.pdf
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Regulation
Regulation
French regulator questions need for share trading equivalence
Esma’s reinterpretation ahead of Brexit reduces need for equivalence system, says AMF official
Receive this by email