French Watchdog Ready to Cede Powers to Advance European Market
Some officials have called for the ESMA to be turned into a European version of the US SEC.
Source: ESMA
A top French financial watchdog said she’s willing to transfer some powers to a European Union regulator to help develop the region’s notoriously fragmented capital markets.
“We are fully ready to relinquish some of our national powers and transfer them to ESMA,” Marie-Anne Barbat-Layani, chair of the Autorite des Marches Financiers, said in an interview with Bloomberg TV on Tuesday. “Regulators or supervisors don’t create markets, but having a fragmented supervision for markets in the EU is certainly not helping.”