Esma Gains Sweeping New Powers in Commission Review
MEP Markus Ferber tells Waters that this change “must not mean that the ESAs can do what they want to just because they get more money,” and that the ESG provisions are “a non-starter”.
Esma and other ESAs will be required to consider fintech and environmental concerns, but MEPs have suggested a pushback on these provisions.
The European Securities and Markets Authority (Esma) has received the greatest share of new capabilities under the proposal from the European Commission (EC). According to documents released on September 20, it will have the ability to directly supervise certain investment funds that carry the EU name, approve certain EU prospectuses and all non-EU prospectuses drawn up under EU rules.
The European Supervisory Authorities (ESAs) is the collective name for Esma, the European Banking Authority
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