European in-house must engage more with regulators to ensure their banks’ business models and practices are fully understood, or risk supervision that is ineffective and restrictive.
And it’s especially urgent for large cross-border banks to make themselves heard above the political wrangling of the European supervisory authorities.
“There’s a significant concern over the new authorities’ ability to get their arms around what you do, how it works, and what the consequences are,” said Allen & Overy regulatory partner Bob Penn.
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