ABI moves to restore trust in financial services regulation

The recent financial crisis has undermined trust in Europe’s supervisory framework and threatens further development in cooperation between Europe’s supervisors, said the Association of British Insurers (ABI) in a new report on the future of Europe’s financial services industry. According to the ABI, national specific responses to the financial crisis have damaged the relationships that underline Europe’s supervisory institutions, and its report establishes principles to set European policy back on track; including mandatory colleges of supervisors for pan-European groups and the potential for a single European regulator.