Close
Enter your search into one or more of the boxes below:
You can refine your search by selecting from any of the options below:
Search
Your Shopping Basket
Total number of items: 0
Sub total: £0.00
Go to Checkout
Our Birmingham Shop
Books We're Talking About
Our Bristol Shop
Animators Survival Kit

EU to create pan-European financial regulators

3rd September 2010

The European Union (EU) has agreed on reforms to the supervisory regimes of its members' financial industries, officials have confirmed.

States in the union and the European Commission will create three new agencies that will have the task of regulating banks, insurance companies and trading in financial markets from 2011, subject to ratification.

Regulatory groups in individual countries will retain the power to oversee the day-to-day supervision of their financial sectors, but the new bodies will work with them to enhance cross-border cooperation and protection.

In addition, the agreement calls for the establishment of a European Systemic Risk Council attached to the European Central Bank to monitor wider threats to financial stability in the EU.

Michel Barnier, the EU internal market commissioner, commented: 'We have reached a crucial milestone. We have reached a political consensus on the creation of a European financial supervisory framework.'

In June, chancellor George Osborne announced that the Financial Services Authority, the UK's regulator, will 'cease to exist in its current form' and be replaced with a number of other bodies.
 

Latest Blog
Read an Extract from Man Booker-Shortlisted The Sellout by Paul Beatty
30/09/2016

Read an extract from the book described by Simon Schama as 'outrageous, hilarious and profound'.

Ben Macintyre Introduces His New Book, SAS: Rogue Heroes
26/09/2016

Ben Macintyre Introduces His New Book, SAS: Rogue Heroes, plus read the Prologue.

A Stinky #FoyesFive!
25/09/2016

Andi celebrates Birmingham Grand Central's First Birthday with her bestselling and rather stinky picture books!

View all Blog Entries
Twitter
Show/Hide Tweets
© W&G Foyle Ltd