Exclusive: EU to consider tax on financial industry to fund supervision

World News: . []

European Union flags are seen outside the European Commission headquarters in BrusselsBy 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

Published: .

Search for other references to "exclusive" on SPi News


Share

Previous StoryNext Story

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.
 
Privacy Policy | Terms and Conditions | Contact Us