France Overview: Challenges in the New Supervisory Landscape
Financial services providers in France must also now become familiar with new players on the scene at a supervisory level, namely the pan-European supervisory authorities for banks, insurance and the securities markets. Although day-to-day supervision of financial services provider remains at a national level, these pan-European authorities, with a view to working towards a common rulebook, develop technical standards where necessary and draw up interpretative guidelines to assist national authorities. Although there are no current projects to set up a single supervisory mechanism for insurers (unlike for banks), the pan-European authority for insurers, the EIOPA takes an active part in the control of the insurers. Read more.
From: Who’s Who Legal