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5 July 2020
Economic and financial affairs Files concluded News

Financial supervision: Council Presidency and Parliament reach provisional deal on supervisory framework for European financial institutions

The EU will soon have in place an improved supervisory framework for European financial institutions, including strengthened supervisory powers for the European Banking Authority in the area of anti money laundering and terrorist financing.

The Romanian Presidency of the Council and the European Parliament reached a provisional agreement on a set of proposals to review the functioning of the current European system of financial supervision (ESFS). The deal will now need to be confirmed by EU ambassadors.

https://www.consilium.europa.eu/en/press/press-releases/2019/03/21/financial-supervision-council-presidency-and-parliament-reach-provisional-deal-on-supervisory-framework-for-european-financial-institutions/

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