Look to markets for head supervisors: De Larosière
Staffing the new European supervisory authorities would be "the most important aspect" of building the continent's new regulatory structure, Jacques de Larosière, the author of the reforms and a former governor of the Banque de France, said on Wednesday.
Speaking at a forum in Brussels, de Larosière said regulators needed to function on the same level as market participants. "[Pre-crisis], regulators were always seen as not one step behind the markets, but one hundred. So you left markets to it
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