Watchdogs Not Consistent When Gathering Data, EU Says
Law360, London (November 7, 2019, 3:40 PM GMT) -- Reporting frameworks used by the bloc's national regulators to collect data from banks and insurers are inconsistent, the European Commission said Thursday, as it warned that the information they gather suffers and costs rise for companies as a result.
The European Union’s executive arm said it has found variations in the quality of the supervisory information that the bloc's regulators are demanding from finance companies about the state of their health. A review of supervisory reporting found inconsistencies in the type of information submitted, the frequency of reports and the templates that companies use to file their reports, the commission said....
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