European Commission announces supervisory agency reforms
Proposals would see Esma’s powers significantly increased while all ESAs would gain executive boards
The European Commission (EC) is proposing significant reform of the European Union’s three European supervisory agencies’ (ESAs) funding and governance, it says in a statement issued on September 20.
The proposed reforms will need to be approved, possibly in modified form, by the European Council of Ministers, representing the EU’s national governments, and the European Parliament. One main reform would create independent executive boards for the three agencies.
The European Banking Authority
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