The main point of the Comment was to stress that the relevant authorities from the EEA EFTA States should be granted unlimited observer status in the to be established EU Authorities for Supervision of the Insurance, Securities and Banking sector and the European Systemic Risk Council which will be established under the European Central Bank.  As the EEA EFTA States fully participate in the internal market for financial services, leaving them out of any of the new structures or limiting their observer status would risk to create regulatory and supervisory gaps in the proposed new structure of EU Supervision of the financial sector.