Reinforcing regulation


On May 28, the European Commission (EC) outlined a comprehensive reform package for financial supervision, including a new European System of Financial Supervisors. Under the proposal, the current system of supervisory committees (comprising the Committee of European Banking Supervisors, Committee of European Securities Regulators and Committee of European Insurance and Occupational Pensions Supervisors (Ceiops)) will be replaced with three new authorities: the European Banking Authority, the

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