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LATEST NEWS & EVENTS Final agreement on financial supervision reform  Banking and financial solicitor services may be impacted by a new EU agreement on financial supervision reform. The new agreement will mean that national supervisors will be responsible for overseeing day-to-day operations within banks, but the European Systemic Risk Board will step in if systemic risks to economies, such as during disputes, emergencies or breaches of EU regulations, are spotted. Commissioner for the internal market and services Michel Barnier said: "We have worked so that Europe learns the first important lesson of the crisis." He then added: "Today's supervision is a fundamental moment for the evolution of financial regulation in Europe." This new agreement follows last year's announcement by the Financial Services Authority (FSA) that the day-to-day correspondence between banks and building societies to their customers would be monitored. Commenting on those reforms, Dan Waters, the FSA's director of conduct risk, said that the regulations will put banking customers in the "driving seat" by affirming clear standards that people should expect from their lender. Posted by Gaby Hamerton 
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