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Deloitte comment letter on ESA Consultation

Published on: 29 May 2017

The European Economic Area member firms of Deloitte Touche Tohmatsu Limited have responded to the European Commission’s consultation on “The Operations of the European Supervisory Authorities”.

High-level but strong messages on a few core principles for standard-setting and enforcement activities that we believe are particularly relevant for the EU environment are:

  • Separation of powers
  • Balance of powers
  • Stakeholders’ involvement

With regard to the first point, we agree with the common European position as regards Question 15 of the consultation and stress:

[A] separation of powers between the activities of standard-setting, enforcement and final decisions on sanctions favours independent decision-making and mitigates the risks of conflicts of interests.

Please click to download our full comment letter below.

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