Community
The European Commission has published a communication on shadow banking which sets out the Commission’s roadmap which aims to limit the emergence of risks (in particular systemic risks) in the unregulated or less regulated financial system.
The Communication identifies five priority areas on which the Commission is establishing initiatives.
The first priority area is in respect of increased transparency.
The Commission states that in order for authorities to be able to monitor risks in an effective manner and intervene when necessary, it is essential to collect detailed, reliable and comprehensive data. Therefore Authorities must continue in their efforts to supplement and enhance their statistical tools. The Commission identifies that in this context there are four projects that merit priority treatment. These are:
The other 4 priority areas for initiatives relate to:
A set of related frequently asked questions has also been published.
Related Link:
http://ec.europa.eu/transparency/regdoc/rep/1/2013/EN/1-2013-614-EN-F1-1.Pdf
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