ECB Urged to Integrate With Financial-Conduct Watchdogs
This article is for subscribers only.
The rush to get the European Central Bank ready to oversee euro-area lenders mustn’t distract regulators from defending consumers and policing financial misconduct, said Theodor Kockelkoren of the Netherlands Authority for the Financial Markets.
“If this topic is neglected, it could actually be to the detriment of the stability of the whole system,” Kockelkoren, a member of the AFM’s executive board, said in an interview. “You could argue that one of the factors that supported the financial crisis and the outbreak of it was the mis-selling of mortgages in the U.S.”