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Restructuring Financial Sector Supervision: Creating a Level Playing Field


  • Michel Flamée

    (CBFA, Rue du congrès 12-14, Brussels 1000, Belgium. E-mails:,

  • Paul Windels

    (CBFA, Rue du congrès 12-14, Brussels 1000, Belgium. E-mails:,


During the past few years, the financial industry has been characterised by an ongoing cross-sector and cross-border consolidation of financial institutions spanning banking, securities, and insurance institutions and the blurring demarcation of their respective products and instruments. Against the backdrop of these changes, the creation of a level playing field for financial services has become a key challenge for policy makers, regulators, and market participants alike. At different national and international levels, regulators, and supervisors have been responding to this challenge with a plethora of measures. This paper presents a number of initiatives at different supervisory levels in view of recent financial sector developments and discusses how the challenge of a level playing field is being tackled. The Geneva Papers (2009) 34, 9–23. doi:10.1057/gpp.2008.36

Suggested Citation

  • Michel Flamée & Paul Windels, 2009. "Restructuring Financial Sector Supervision: Creating a Level Playing Field," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 34(1), pages 9-23, January.
  • Handle: RePEc:pal:gpprii:v:34:y:2009:i:1:p:9-23

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    1. Bryce, Cormac & Webb, Rob & Cheevers, Carly & Ring, P. & Clark, G., 2016. "Should the insurance industry be banking on risk escalation for solvency II?," International Review of Financial Analysis, Elsevier, vol. 46(C), pages 131-139.

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