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09 Jan 2008

Financial supervision is not well served by half-baked solutions

Karel Lannoo

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ECMI Commentary 16, January 2008: In this commentary, ECMI's Chief Officer Karel Lannoo argues that the problems encountered with the exchange of supervisory information amongst authorities, the delegation of supervisory tasks, the need for an authority to be capable of exercising an EU-wide mandate and take EU-wide supervisory decisions, all call for substantial changes to the current set-up, allowing for full transparency and clarity in the division of responsibilities. In short, the cause of financial supervision is not well served by half-baked solutions.