EU ap­proves su­per watchdogs

Los Angeles Times - - Business -

Euro­pean Union law­mak­ers have ap­proved the cre­ation of pan-EU watchdogs to po­lice bank­ing, in­surance and trad­ing.

The su­per watchdogs, who will cover banks, in­sur­ers and fi­nan­cial mar­kets across the 27-coun­try bloc, will start work in Jan­uary, three years af­ter the on­set of the fi­nan­cial cri­sis, which many politi­cians blame on bank ex­cesses.

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