Following a meeting of the Economic and Financial Affairs Council (“ECOFIN”) on 7 September 2010, the Council of the European Union (“EU”) announced1 that it has endorsed the agreement reached with the EU Parliament on 2 September 20102 on reforming the EU financial supervisory framework.
Their “agreement in principle” was outlined in a report of the EU Council dated 6 September 2010 on “Financial Supervision Reform,”3 and covered the following areas...
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