The current arrangements, still largely decentralised, with national supervisory authorities cooperating in an effort to ensure consistent application of EU directives across the 27 Member States, may not be enough to prevent obstacles to cross-border activity via different national approaches to supervision - or when it comes to dealing with large multinational financial groups operating in a number of markets at the same time.


Those giving evidence were:

-Tommaso Padoa - Schioppa - former Minister of Economic Affairs and Finance of Italy, President of Notre Europe;

-Peter Praet - Executive Director, National Bank of Belgium; Chair of the Banking Supervision Committee of the ECB (BSC)

-Michel Prada - Chairman of the Autorité des Marchés Financiers

-Johnny Åkerholm - former Chairman of the Interinstitutional Monitoring Group, President and CEO of the Nordic Investment Bank

CVs of speakers

Source: The European Parliament