EU Strengthens Bloc's Top Financial, Insurance Regulators

Law360, London (December 2, 2019, 12:19 PM GMT) -- European Union governments gave the green light on Monday to rules that will strengthen the powers held by four of the bloc’s top financial and insurance watchdogs, in a bid to ensure that the regulators can tackle money laundering threats in Europe.

The Council of the European Union approved rules that revamp how financial supervisors work across the bloc. The regime will add force to the European Banking Authority, the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority, the lawmakers said. The three watchdogs are known as the European Supervisory Authorities.

The incoming regulation will also...

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