Newsletter June 08: EU executive consults on role of supervisor bodies

BRUSSELS – A consultation has been launched by the European Commission on a package of proposals for upgrading and strengthening the three committees at the centre of efforts to create a harmonised EU system of financial supervision. The Committee of European Banking Supervisors (CEBS), the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS), and the Committee of European Securities Regulators (CESR) were created under the Lamfalussy process, introduced in 2001 to streamline EU financial lawmaking.