European Commission: time to bolster supervisory authorities

Author: Olly Jackson | Published: 20 Feb 2019

With Brexit fast approaching, the European Commission is looking to seize the opportunity and further harmonise European financial regulation by bolstering its supervisory authorities. But sources have told IFLR that the changes open up loopholes and inhibit a local regulator from making interpretations that fit a local context.

According to a European Commission spokesperson, the adoption of the Capital Markets Union is central to the plans. They hope progress will be made by spring 2019, which they say will ensure well-functioning and well-integrated supervision.

"As European financial markets are evolving rapidly, we need to better-equip the European supervisory authorities to promote supervisory convergence and to address new challenges," a European Commission spokesperson told IFLR.

This is especially important to ensure they can promote supervisory convergence and to address new challenges.


"We need to better-equip the European supervisory authorities to promote supervisory convergence"



In September 2017, the Commission proposed reinforcing the coordination...