Europe to get cross-border supervisor

Article reports that the the fund industry has moved one step closer to a truly cross-border market after the Council of the European Union adopted Conclusions on 'Strengthening EU financial supervision', June 2009 which were likely to be endorsed by the European Council, Brussels, 18-19 June 2009. This would lead to legislative proposals which will create a pan-European authority for securities.

Council of the European Union: Press Release, 9.6.09: Council http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/108389.pdf

ESO: Background information: Impasse over powers for EU bank supervisors http://www.europeansources.info/record/impasse-over-powers-for-eu-bank-supervisors/

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