EU draft report supports pan-European regulator
A draft report presented to the European Parliament has called for a series of studies into the economic effects of Financial Services Action Plan (FSAP), which also makes a case for the creation of a European authority for the supervision of large cross-border firms.
The success of the FSAP is praised in the report as being a major contributor to delivering an integrated and well-functioning European capital market, but there are some concerns that this success may cause other potential pitfalls that need to be addressed. The report requests the Commission to commission a series of studies to examine the economic effects of the FSAP at the same time it conducts its annual progress reports and implementation monitors.
One of the main questions the report
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