Unite or fail
The European Commission is busy preparing the detail of its proposals for a new framework of financial supervision - but will national supervisors see their powers and discretion curbed? Joel Clark reports
It was always inevitable European Union (EU) politicians would respond to the financial crisis by attempting to change the supervisory framework, but only now is the full scope of the proposed overhaul becoming clear. The Committee of European Banking Supervisors (Cebs), the Committee of European Insurance and Occupational Pensions Supervisors (Ceiops) and the Committee of European Securities Regulators (Cesr) are set to see their mandate and authority heavily strengthened as early as 2010
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