European super regulator could be in place by 2011 pending 7 September vote
EU authorities are to get tough new powers to settle disputes among national financial supervisors and to ban risky financial products and activities, in a revamp of EU financial supervision plans agreed on Thursday.
If national supervisors fail to act, then the authorities may also impose decisions directly on financial institutions, such as banks, so as to remedy breaches of EU law.
The deal struck late on
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