Green light for new European insurance and pension supervisor

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The European Parliament and European Union (EU) member states have reached agreement on the creation of the European Insurance and Pensions Authority (EIOPA) to replace the current regulatory body in 2011.

The agreement was attained as part of a deal that will also include the creation of the European Banking Authority and the European Securities and Marketing Authority, in addition to EIOPA, for micro-prudential supervision. At the same time the European Systemic Risk Board was established to

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