Date: 24th November 2017

Last September the European Commission published its proposal for the review of the European Supervisory Authorities (EBA, ESMA and EIOPA – ESAs). The aim is to reform the ESAs’ mandate, governance and funding to underpin the Capital Markets Union, the EU’s flagship project in the area of investments. As the major EU public interest organisations working on financial services, we want to stress we are extremely disappointed with this proposal.