EU Warns Of Brexit, Climate & Rate Risks To Finance Sector

Law360, London (September 12, 2019, 3:09 PM BST) -- National regulators must takes steps to protect Europe’s banks and insurers from risks caused by the uncertainty around Brexit, persistently low interest rates and transitioning to a sustainable economy, the bloc’s three financial services watchdogs said Thursday.

The European Banking Authority, the European Securities and Markets Authority, and the European Insurance and Occupational Pensions Authority — known together as the European Supervisory Authorities — said in a joint report that member state supervisors must work together to protect financial services companies from the uncertainties around the terms of the U.K.’s withdrawal from the European Union. National regulators should help insurers and...

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