Informations and abstract
Keywords: ESA (European Supervisory Authorities); Financial Regulation and Supervision; Financial Industry.
The lesson of the crisis and the dynamics that are blurring the borders between old and new financial intermediation practices, induced by fintech, call for a significant move to enhance a light regulation, supported by a proactive risk based supervision. The author underlines the need to up-date the European and National Competent Authorities' architectures, to serve effectively the tasks they are committed to. He doesn't think the sectoral model, outlined for ESA, suitable to implement market conduct and prudential supervision across processes, activities and platforms. The paper concludes with some drill-down on the steps that could be appropriate to readdress the hybrid Italian twin-peaks, may be towards a single one.