The European Commission is considering creating a new authority to police financial crime and monitor banks more strictly, it said on Thursday, confirming a Reuters report.
FILE PHOTO: European Union flags fly outside the European Commission headquarters in Brussels, Belgium, February 19, 2020. REUTERS/Yves Herman
Any EU-level supervision could be run out of the European Banking Authority or done by “a new, dedicated body”, the Commission said. The revised list is set to take effect from October. Companies in any of the listed states are banned from receiving new EU funding.
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