| The financial sector within the EU shows a clear tendency to the creation of financial conglomerates, and cross-border mergers and acquisitions. This increases the need for cross-border and cross-sector supervision, which could result in a new European financial services authority. The project will examine a restructuring of financial supervision, e.g. cooperation between national regulators versus a centralized system, as well as a functional or integrated supervision. Part of the research goes into developing a theory of pension fund regulation and supervision, based on the theoretical foundations of banking by Laffont et al, Freixas and Rochet. The study will also look at a new way of pension fund governance, by also integrating young employees and retired workers. |
