EC consults on twin peaks model for supervisory authorities

European Commission
The European Commission

The European Commission (EC) has floated the possibility of a major reorganisation of the European Supervisory Authorities (ESAs) as part of a public consultation.

The EC suggested on March 21 that the three cross-border financial supervisors might form a “twin peaks” model, with one authority possessing a mandate to supervise and regulate financial institutions, and another overseeing conduct and consumer protection in financial markets.

In a question to industry stakeholders, it asked

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