EU Approves Rules To Hand Powers To Finance Watchdogs

Law360, London (April 17, 2019, 12:46 PM BST) -- The European Union’s banking, markets and insurance regulators will be handed tougher enforcement powers to help them protect consumers against businesses that breach money laundering controls under new rules nodded through this week by the European Parliament.

EU lawmakers said on Tuesday that they have adopted changes to regulations governing the bloc’s top three financial watchdogs, known as the European Supervisory Authorities. The rules, which were approved by a vote of 521 to 70, with 65 abstentions, will beef up the supervisory powers held by the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and...

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