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
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
How to Change the World: Stop Harming Women
22/06/2017

Human rights barrister and a researcher at the Gender and Social Justice Centre at Cambridge University, Dexter Dias introduces his new book and explains how we can change the course of the 21st century if we can stop harming women.

The Book that Inspired Pink Floyd and Walt Disney
20/06/2017

We're celebrating the opening this month at the London Palladium of The Wind in the Willows: the Musical with a selection of things you might not know about the bok and its author, Kenneth Grahame.

The Miracle of Creativity's Springs, Coils and Gears
19/06/2017

As his epic new standalone thriller is published, Deon Meyer reflects on the creative process.

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