Shifting Powers: What the EU’s financial supervisors will mean for the UK and the City of London

EU finance ministers meeting in Brussels on the 7 September 2010 endorsed a proposal to create three new pan-European supervisors to oversee the banking, insurance and securities markets in the EU.

On the eve of the decision, Open Europe published a new report arguing that the proposal represents a clear shift in powers from national regulators to the EU, and a risk to the City of London.

Open Europe, 6.9.10: New EU supervisors represent a risk to the UK’s financial services industry http://www.openeurope.org.uk/media-centre/pressrelease.aspx?pressreleaseid=141

ESO: Background information: Deal paves way for pan-EU financial watchdogs / London fears Brussels reform will shift power http://www.europeansources.info/record/deal-paves-way-for-pan-eu-financial-watchdogs-london-fears-brussels%e2%80%89reform-will%e2%80%89shift%e2%80%89power/

---