In September 2017 the European Commission presented a series of proposals to pave the way for further financial integration and a full capital markets union, to promote jobs, growth and investments in Europe and to strengthen the economic and monetary union.
Once adopted, the proposals will improve the mandates, governance and funding of the ESAs for banking (European Banking Authority, EBA), for securities and financial markets (European Securities and Markets Authority, ESMA), and for insurance and pensions (European Insurance and Occupational Pensions Authority, EIOPA). To ensure a uniform application of EU rules and promote a true Capital Markets Union, the proposals also entrust ESMA with direct supervisory power in specific financial sectors.
- Press release
- Frequently asked questions
- Communication from the Commission: Reinforcing integrated supervision to strengthen capital markets union and financial integration in a changing environment
- Proposal for a regulation amending regulations (EU) No 1093/2010, (EU) No 1094/2010 and (EU) No 1095/2010 establishing the ESAs; regulation (EU) No 345/2013 on European venture capital funds; regulation (EU) No 346/2013 on European social entrepreneurship funds; regulation (EU) No 600/2014 on markets in financial instruments; regulation (EU) 2015/760 on European long-term investment funds; regulation (EU) 2016/1011 on financial benchmarks; and regulation (EU) 2017/1129 on securities prospectuses
- Proposal for a regulation amending regulation (EU) No 1092/2010 establishing the ESRB
- Proposal for a directive amending directives 2014/65/EU (MiFID II) and 2009/138/EC (Solvency II)
- Amendment of pending proposal from the Commission of 13 June 2017 amending regulations (EU) No 1095/2010 and (EU) No 648/2012 (EMIR II proposal)