World News: 10:30 GMT Tuesday 24th June 2014. [Yahoo Business News Feed via SPi World News]
By Huw Jones LONDON (Reuters) - The European Union's markets, banking and insurance watchdogs could be funded from a direct levy on the sector, the bloc's executive body said in a document seen by Reuters. The European Commission has been reviewing the three watchdogs it launched in 2011 to make supervision of banks, markets and insurers more consistent across its 28 member countries after the 2007-09 financial crisis highlighted supervisory failings. Currently the European Securities and Markets Authority (ESMA), the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) receive 60 percent of their funding from national supervisors and 40 percent from the central EU budget.
Read More: http://news.yahoo.com/exclusive-eu-consider-tax-financial-industry-fund-supervision-093051800--sector.html
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2018. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 0751938.