Eight years after the 'de Larosière' report (see EUROPE 9848) suggesting a new institutional architecture for financial supervision, the former governor of the Banque de France, Jacques de Larosière, proposed a few areas for reflection to improve the functioning of the three European supervisory authorities (ESAs), before the committee on economic and financial affairs (ECON) of the European Parliament on Wednesday 3 May.
De Larosière states that although the three European authorities...