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BrackenJanuary 29 2018

A ‘twin peaks’ vision for Europe

A two-pronged approach to financial oversight will be vital for the EU after the UK finally leaves, write Dirk Schoenmaker and Nicolas Véron of Brussels-based economic policy think tank Bruegel.
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The organisation of the European Supervisory Authorities (the ESAs) is based on a sectoral approach with one ESA for each sector: the European Banking Authority for banking, the European Insurance and Occupational Pensions Authority (Eiopa) for insurance and pension funds, and the European Securities and Markets Authority (ESMA) for the securities markets. But is this sectoral approach still valid?

Why twin peaks?

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