Council Of The European Union Conclusions On Strengthening EU Financial Supervision

The Council adopted the following conclusions:

"On 19-20 March 2009, the European Council examined the report prepared by the High-Level Group on Supervision, chaired by Mr. Jacques de Larosière, in light of the ensuing Commission Communication on "Driving European Recovery" and concluded by agreeing "on the need to improve the regulation and supervision of financial institutions in the EU and that the report from the High Level Group on financial supervision chaired by Jacques de Larosière is the basis for action. The Council is instructed to examine the report, as well as the proposals from the Commission, on strengthening EU financial sector regulation and supervision with a view to first decisions at the June 2009 European Council. More detailed legislative proposals will follow in the autumn."

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