Several EU member states have reacted with concern to long-awaited proposals on financial regulation that were published by the European Commission on Wednesday (27 May), fearing the role of national regulators could be undermined.
Under the new proposals, which draw extensively on a report produced by a group of financial experts and chaired by former Bank of France governor, Jacques de Larosiere, three new pan-European authorities would be set up in the areas of banking, insurance an...
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