View more on these topics

Chancellor pushes for EU watchdog

Chancellor Alistair Darling has written to the finance ministers of Europe calling for a continental-watchdog to sanction any countries that breach best standards.

According to the Financial Times, Darling has written to ministers as Brussels prepares to reveal its plans for a European institution to monitor the systemic risks of European nations’ economic systems, beginning in 2010.

The FT reports that Darling wants a body “with a specific objective to iron out national divergences”.

“In short, it would, over time, become a regulatory authority and a forum in which the effectiveness of national supervisors can be peer reviewed,” he says.

Darling stresses that the new body should not concentrate of “detailed supervisory practices” and should not be able to dictate to national financial regulators, rather just providing an “early warning system” for systemic risk.

Darling’s proposed body will be discussed at this year’s Spring EU Council meeting, which will take place in two weeks.

Recommended

FAMR – a familiar response

Pension specialist Fiona Tait takes a look at the Financial Advice Market Review and assesses the three areas where it suggests improvements can be made With significant budget changes ruled out (for a while anyway), the pension community briefly turned its attention to the FCA’s final report on its Financial Advice Market Review (FAMR), hoping […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com