The Creation of a Super European Stock Market Gendarme on Track
20 Articles
20 Articles
With more common financial market supervision, the EU countries want to strengthen confidence in the markets. Will Deutsche Börse be monitored from Paris in the future?
The agreement, approved almost unanimously, provides for a strengthening of the resources of Esma, the European market authority, based in Paris.
The Member States of the European Union reached an agreement on Friday 9 October on the creation of a European stock exchange gendarmerie, a reform which provides for the strengthening of the European Securities and Markets Authority.
Reformatorisch Dagblad
welingelichtekringen.nlThe Irish EU Presidency hopes that the Ministers of Economy and Finance will agree on Friday to a proposal to strengthen the Capital Markets Union. Irish Minister Simon Harris emphasized this ahead of talks in Luxembourg.
This compromise recognises the strengthening of the Esma, the European supervisor of the major players in the sector, as well as the exclusion of Deutsche Börse from this new control perimeter.
Ireland, which holds the rotating presidency of the European Union, hopes that the negotiations will be concluded at a meeting on Friday in Luxembourg. This reform consists in strengthening the powers of the European financial market authority, the Paris-based Esma, which now has a simple coordinating role, to the detriment of national regulators such as the BaFin in Germany or the Autorité des marchés financiers (AMF) in France.
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