Brussels, 23/12/2010 (Agence Europe) - The new EU financial supervision system will be up and running on 1 January 2011 (see EUROPE 10259). It involves the creation of the European Systemic Risk Committee (CERS) to issue warnings about macro-economic risks to the financial system and recommendations about how to deal with them. Three new EU supervision authorities will also be set up, one for banking, one for insurance and one for securities. They will have binding powers over national...