Oireachtas Joint and Select Committees
Thursday, 5 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Joe Higgins (Dublin West, Socialist Party) | Oireachtas source
On the minimum regulation laid down by the European Union, Mr. Nava states that member states "typically did not resort to overly restrictive rules". He also notes:
The degree of flexibility previously granted to member states and national supervisors, as mentioned above, had led to divergent transposition of EU rules into national law. This created opportunities for regulatory arbitrage...
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