Home | Topics | supervision

Improving supervision in the EU financial services sector: The 3L3 Commitees express their suport for the Commission's position

Printer-friendly versionPDF version

The 3L3 Committees, CESR, CEBS and CEIOPS, published today their joint response to the European Commission’s consultation on improving the supervision of EU financial markets. The joint response also includes in an annex, the three Committees’ sectoral views on the proposals made by the high-level group (“the Group”) on the structure of financial supervision in the EU, chaired by Jacques de Larosière, which were endorsed by the Commission’s Communication of 4 March 2009.

The Commission’s consultation launched on 10 March 2009 and the 3L3 joint response to it, should be viewed in the context of the current financial crisis and its impact on the global financial system.

In their joint response to the Commission, the 3L3 Committees support the Group’s proposal to  introduce a two-tier institutional architecture for the supervision of the EU financial markets, with the 3L3 Committees providing the link at a European level between the envisaged macro and micro-supervisory arrangements, as suggested by “the Group”.

In addition, the 3L3 Committees’ response expresses their support for the Group’s call for a strengthened and harmonised legal framework for financial services at EU level.

 

 

Read more:

http://www.c-ebs.org/News--Communications/Latest-news/Improving-supervision-in-the-EU-financial-services.aspx

 

 

Short URL
Asymptotix on Twitter

Are the key legislative pillars such as Basel II & III, UCITS IV and Solvency II forcing you to re-examine how you identify, measure and manage risk and capital?

Asymptotix work closely with our partners to help clients develop a more proactive, systematic and integrated approach to governance and risk management to deliver proper value.

Asymptotix can offer the support you need to deliver on time. Read more...
 

Is the goal of your website to sell services or products, educate, or collect data?

A positive customer experience is vital to conversion, no matter what your conversion goals may be. Our designers and developers will create a positive experience to maximize your conversions and deliver the optimal return on your investment. We strive to find the perfect balance between the web site’s design and functionality.

Asymptotix implements interactive solutions for European companies. From corporate websites to social communities, our clients will tell you an investment in building a scalable online experience will deliver long-term tangible benefits.

Based in Luxembourg we can help you all over Europe. Our multi-lingual team can work with projects and speak your language! Read more...