France follows single regulator trend

The financial crisis has led to urgent reform of the regulatory system of financial services in France. New legislation is expected to be in place by the end of this year to create a single prudential regulator for banks and insurers and replace the existing four regulators: Commission bancaire, the Autorité de contrôle des assurances et des mutuelles (Acam), the Comité des entreprises d’assurance (CEA) and the Comité des établissements de crédit et des entreprises d’investissement (CECEI).