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EU capital markets integration and supervision reform

Updated 1 time since CLSTR started tracking revisions of this situation.

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2026-10-14 05:36 UTC → 2026-10-18 06:22 UTC · added removed

European Union finance ministers have reached a political agreement on the Markets Integration and Supervision Package (MISP). This initiative, part (MISP), a key component of the ‘One Europe, One Market’ agenda, Savings and Investments Union (SIU) initiative. This reform seeks to mobilize approximately 10 trillion euros in private savings currently held in low-interest bank deposits to fund economic growth and innovation. A central component of the reform involves transferring the supervision of significant cross-border trading systems, central securities depositories, and central counterparties from national authorities to the European Securities and Markets Authority (ESMA). To lead this transition, Carlo Comporti was appointed as the new president of ESMA, effective November 1. During the IMF annual meeting in Bangkok, Eurogroup President Kyriakos Pierrakakis noted that progress made over the last 10 months exceeds that of the previous decade, while EU Economy Commissioner Valdis Dombrovskis described the agreement as a significant step despite desiring even more ambitious outcomes. The agreement includes several specific regulatory measures, such as the introduction of a ‘depository passport’ and a voluntary status for Pan-European Market Operators (PEMO). Regarding crypto-assets, While the Council proposed that only original proposal suggested ESMA oversee all stock exchanges, the most significant cross-border providers fall under direct European supervision. Implementation of these reforms involves both concessions and national legislative adjustments. current agreement includes exceptions to reduce fragmentation. Germany secured provisions allowing for certain parts of the Deutsche Börse group that focus focusing on the domestic market, and exceptions were also noted for the Swiss-based SIX Group, which manages the Madrid market to remain under and the British platform Aquis. Implementation involves national supervision. Additionally, legislative adjustments, such as the Croatian Parliament is Parliament’s scheduled to discuss discussion of amendments to its national Capital Market Act to harmonize local laws with European directives.

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  1. 2026-10-18 06:22 UTC EU capital markets integration and supervision reform
  2. 2026-10-14 05:36 UTC EU capital markets integration and supervision reform

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