While financial integration in the Single Market was progressing, regulation and supervision remained fragmented. Tommaso devoted a large part of his professional life to overcoming this fragmentation and making regulatory and supervisory structures commensurate with the realities of integrated European financial markets.
He argued tirelessly in favour of a single rule book for financial institutions and was among the first to call for the establishment of supervisory authorities at EU level. With the setting up of the European System of Financial Supervision, and three European Supervisory Authorities and the European Systemic Risk Board, we are a step closer to overcoming this asymmetry.