On 10 March 2009, the European Commission launched a consultation where interested parties could comment on the proposals regarding financial supervision made in the de Larosière Report and in the Commission communication of 4 March 2009 entitled Driving European Recovery.

The 3L3 Committees (the Committee of European Securities Regulators, the Committee of European Banking Supervisors, and the Committee of European Insurance and Occupational Pension Supervisors), have now published their joint response to the Commission’s consultation. In addition each Committee has prepared a more specific sectoral contribution which goes further than the joint position. These are set out in the annex to the response.

View 3L3 joint contribution to the European Commission’s consultation on the improvement of supervision for the financial services sector, 10 April 2009