In Europe, several models for financial supervision have developed over time: from the traditional three-pillar or institutional model (banking insurance and securities), via the intermediate 'twin peaks' model, which is closer to a functional approach, to the single or integrated model. Many...

In Europe three models of financial supervision are being practised: a three pillar model (banking, insurance and securities), a two pillar model (prudential v. conduct of business) and an integrated model (all types of supervision under one roof). This paper gives an overview of the models...