EU seeks US-style freedom to delay rules

Power to grant “no-action relief” appears in proposals from EU Council and Parliament

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Emergency powers: European supervisors in line for new rights of relief

European Union legislators have put forward a draft proposal that would enable the bloc’s three financial watchdogs to delay the application of future rules if early enactment would disrupt the markets, according to a leaked document seen by Risk.net.

The proposal, made by the French delegation to the Council of the European Union, matches similar moves within the European Parliament to introduce regulatory relief powers.

The document urges fellow lawmakers to “seize the opportunity” to

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