From 1 January 2011 the regulation of financial services across the EU will be overseen by three new European Supervisory Authorities. These are the European Banking Authority, the European Securities and Markets Authority, and the European Insurance and Occupational Pensions Authority.
Sub-Committee A held two evidence sessions to quiz the UK Financial Services Authority and the Chairman of the European Banking Authority on the progress made setting up these new organisations and their plans for the future.
On the 3 May the Sub-Committee heard evidence from Mr Andrea Enria (Chairman) and Mr Adam Farkas (Executive Director) of the European Banking Authority.
On 10 May the Sub-Committee heard evidence from Mr Thomas Huertas (Director of Recovery and Resolution) and Alexander Justham (Director of Markets & Capital Markets Sector Leader) at the Financial Services Authority.