Germany's new finance watchdog vows further supervision reforms

FILE PHOTO: The logo of Germany’s Federal Financial Supervisory Authority BaFin (Bundesanstalt fuer Finanzdienstleistungsaufsicht) is pictured outside of an office building of the BaFin in Bonn, Germany, April 15, 2019. REUTERS/Wolfgang Rattay

FRANKFURT (Reuters) – The new president of Germany’s financial watchdog BaFin on Wednesday vowed to make further efforts to bolster supervision in Europe’s largest economy amid criticism that current overhaul efforts don’t go far enough.

Mark Branson, in his first news conference since taking over the helm BaFin, said he was impressed by the speed and breadth of the reforms.

“But for me, this is only the beginning of BaFin’s long-term development,” he said.

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