ICYMI: In a speech delivered at the Supervision Innovators Conference in Frankfurt last month, Denis Beau, First Deputy Governor of the Bank of France, urged European supervisors to strike a balance between innovation and simplification in pursuit of more effective, risk-based supervision.
Beau reflected on the broad consensus that European regulatory frameworks have become excessively complex and costly, burdening both banks and supervisors. Simplification, he noted, is now a shared objective of EU reform efforts, but it must be achieved without weakening safeguards. Technology, particularly supervisory technology (SupTech), can help if deployed thoughtfully, Beau argued. However, he cautioned against “techno-solutionism,” urging authorities to streamline processes before bringing technology to them.
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