The EU is about to strengthen the system of financial supervision. Banks, insurers, fund managers and other firms are in broad acceptance but continue to oppose specific EU regulations that threaten their industries.
The Internal Markets and Services Directorate-General of the European Commission. It published its proposals in May, which were agreed by the European Council of Ministers in June. The Commission gave all interested parties until July 15 to comment. It will introduce legislation in the autumn and expects the new architecture will be operational next year. The proposals are based on a report published earlier this year by a high-level group chaired by Jacques de Larosière.
