This latest report from AFME and Linklaters, in collaboration with Irish law firm Arthur Cox, articulates the approach to conduct supervision taken by financial regulators in France, Germany, Ireland and the Netherlands.

Focusing on conduct supervision rather than prudential supervision (particularly where one regulator supervises both) and on supervision by national competent authorities rather than the ECB, the report clarifies:

• who the financial services conduct supervisor is;
• how they supervise;
• the current priorities; and

• specific approaches taken to the supervision of key activities.