B. The first step: Consolidated supervision
1. Evolution, foundations and key features
The specific focus on the external stakeholders of financial services groups was…
The purpose was twofold: First, the Directive sought to facilitate more effective…
Secondly, and more technically, the objective was to prevent the so-called “double…
Further harmonisation was then accomplished with a package of Directives enacted…
Both the fundamental principle of consolidated supervision and the core of the technical…
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