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Auditors Challenge EU Watchdog Over Insurance Supervision

Law360, London (November 16, 2018, 2:04 PM GMT) -- Europe’s top insurance regulator has failed to streamline the supervision of cross-border companies and struggles to follow up on the recommendations it makes to national watchdogs, the European Court of Auditors has said in a hard-hitting report.

The panel of auditors, which is appointed by the European Council to improve financial management in the European Union, said in a report that the regulator — as well as national watchdogs and lawmakers — face significant challenges.

The auditors indicated that the blame lay largely with the wider legal framework and a lack of support from national regulators, rather than at the door...
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