Fragmented Supervision Creating Regulatory Arbitrage Risks, EU Authorities Warn

A coalition of European authorities has urged lawmakers to look at harmonising EU supervision across the financial services sector, warning that existing fragmentation can result in regulatory arbitrage between member states.

In a report published on Tuesday on the supervision of cross-border financial services, the European supervisory authorities (ESAs) drew attention to ongoing issues around gaps and inconsistencies in different jurisdictions’ implementation of EU legislation.

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