Part of objective 3 of the capital markets union (CMU) action plan, action 16 aims at supervisory convergence.

Supervisory convergence

The Commission aims at publishing a report by Q1 2022 with the overall objective to target how to enhance the single rulebook for capital markets by assessing the need for further harmonisation of EU rules and monitoring progress towards supervisory convergence. This report will aim at proposing measures for stronger supervisory coordination or direct supervision by the European Supervisory Authorities (ESAs).

Following up on its 2020 commitment to assess the implications of the Wirecard case and consider possible action, the Commission also launched on 12 November 2021 a public consultation on the quality and enforcement of corporate reporting.

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