Consultation on the operations of European Supervisory Authorities
Published: 05 April 2017
The European Commission has launched a public consultation seeking feedback on various aspects of the powers and operations of the European Supervisory Authorities (ESAs) including the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA). The consultation covers a wide range of topics but among these are a few interesting ones, including:
- the ESA’s activities on supervisory convergence;
- their role in the monitoring and implementation working following an equivalence decision and empowerment to monitor regulatory, supervisory and market developments in third countries;
- coordination and streamlining of reporting; and
- potential direct supervisory powers for investment funds being sold across the EU.
We are planning to respond to this consultation by the submission deadline of 16 May 2017. To contribute to a response to this consultation, please contact Jennifer Wood.