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Financial services
EU supervision of financial services
The EU is working to improve the cross border supervision and regulation of financial services institutions.
In September 2010, Member States and the European Parliament reached agreement on a package of legislation on European financial supervision, establishing three new European Supervisory Authorities and a European Systemic Risk Board.
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The Government welcomes this new framework, which will fundamentally improve the quality and consistency of supervision and regulation in the EU by helping ensure higher standards are applied to cross-border firms and that systemic risk is better identified.
While facilitating better co-ordination of supervisors, day-to-day supervision will remain at the national level. This reflects the need to ensure that national governments and regulators retain their frontline responsibility to protect national taxpayers’ interests.
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Europe & International: the agenda for financial services index
- Europe & International: the agenda for financial services
- EU response to the financial crisis: protecting taxpayers
- Increasing bank resilience and capital
- EU supervision of financial services
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- Central clearing & over-the-counter derivatives
- European and international financial services reform
