ESAs Publish Recommendations on Supervision of Cross-Border Retail Financial Services

On July 9, 2019, the joint committee of the European supervisory authorities (ESAs) — the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pensions Authority (EIOPA) — released a report setting out recommendations on the supervision of retail financial services provided across borders.

The report examines the challenges and difficulties that national competent authorities have to face when performing their supervisory powers over the financial institutions offering retail financial services across the EU.

The identified issues are classified into three main categories:

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