The European Securities and Markets Authority has published its response to the European Commission's green paper on shadow banking: see here (pdf). Amongst other things, ESMA argues that the definition of shadow banking adopted by the Commission should be more focused on activities rather than with the entity performing the activity.
Tuesday, 31 July 2012
Europe: ESMA responds to Commission's shadow banking green paper
The European Securities and Markets Authority has published its response to the European Commission's green paper on shadow banking: see here (pdf). Amongst other things, ESMA argues that the definition of shadow banking adopted by the Commission should be more focused on activities rather than with the entity performing the activity.
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