Bernardino calls for dramatic extension of Eiopa's powers

Let Eiopa levy fees on insurers and carry out direct supervision, argues chairman

The chairman of the European Insurance and Occupational Pensions Authority (Eiopa) has called for a dramatic extension of the regulatory authority's powers to enable it to levy fees on insurers and carry out direct supervision, largely at the expense of national authorities.

Gabriel Bernardino urged politicians on Friday to grant Eiopa the capacity to ban or restrict financial activities as well as eliminate the limits on it to conduct inquiries into the activities of insurance companies.

"This