European lawmakers water down proposed no-action powers

ESAs to advise rather than postponing rules themselves; experts warn tool may be too slow to use

Eu flags

European Union lawmakers have heavily diluted plans to give its three financial watchdogs forbearance powers over rules that prove troublesome to implement. Members of the European Parliament supported the proposals, but they ran into opposition from the Council of the EU and European Commission.

In the end, the three European supervisory authorities (ESAs) for banking, insurance and markets will only be able to issue non-legally binding opinions recommending the EC and competent authorities

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here