EU delays bank watchdogs appointments

The European Parliament's Economics Committee postponed on the 1 February 2011 its decision on the proposed candidates for the European supervisory authority chairmen on the grounds that it needed more guarantees from the European Commission and Member States regarding the independence of all senior executives of the authorities, appropriate budgetary and human resources, and an improved personnel selection procedure.

On the 3 February 2011 MEPs withdrew their reservations regarding the nomination of the three candidates to head the newly established EU financial services watchdogs after having favourably assessed the written commitments received from the European Commission and the Hungarian Presidency on guarantees regarding transparency, independence of staff selection procedures and budgets.

EurActiv, 2.2.11: MEPs reject heads of EU bank watchdogs http://www.euractiv.com/en/euro-finance/meps-reject-heads-eu-bank-watchdogs-news-501814

European Parliament: Press Release, 1.2.11: MEPs insist on guarantees for financial supervisory watchdogs http://www.europarl.europa.eu/en/pressroom/content/20110131IPR12816/html/MEPs-insist-on-guarantees-for-financial-supervisory-watchdogs

EUObserver, 1.2.11: MEPs delay approval of financial watchdogs http://euobserver.com/9/31732

ESO: Background information: EU lets financial watchdogs off the leash http://www.europeansources.info/record/eu-lets-financial-watchdogs-off-the-leash/

European Parliament: Press Release, 3.2.11: Green light from Parliament for financial watchdog chiefs http://www.europarl.europa.eu/en/pressroom/content/20110203IPR13128/html/Green-light-from-Parliament-for-financial-watchdog-chiefs

---