The EU finmin's agree on a European financial supervisory system

The Council of Finance and Economics Ministers of the European Union, meeting in Brussels on 2 December 2009, agreed on a general approach on draft regulations that would create three new authorities for the supervision of financial services in the EU, namely:
- European Banking Authority (would replace Committee of European Banking Supervisors (CEBS) - European Insurance and Occupational Pensions Authority (would replace Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) - European Securities and Markets Authority (would replace Committee of European Securities Regulators (CESR)
Read the European Council's press release
@AFP