The European Banking Federation and 11 other trade associations issued a joint statement calling on European Union policymakers to use the Market Integration and Supervision Package to strengthen the bloc’s regulatory and supervisory framework. The statement focuses on reducing legal uncertainty and requiring stronger cost-benefit assessment of regulatory measures, with the aim of improving the competitiveness and attractiveness of European Union capital markets. The associations set out three main changes. They called for a secondary competitiveness objective to be embedded in the European Securities and Markets Authority’s mandate so the effect of regulatory decisions on the attractiveness of European Union capital markets is systematically considered. They also urged better sequencing of European Union financial legislation so that new obligations take effect only after the necessary technical standards are finalized, alongside effective no-action relief powers for ESMA where appropriate. In addition, they called for a more efficient and coherent supervisory framework that avoids unnecessary duplication and fragmentation.
European Banking Federation2026-07-02
European Banking Federation and 11 trade groups urge EU to use MISP to add a competitiveness objective to ESMA mandate
The European Banking Federation and 11 other trade associations called on European Union policymakers to use the Market Integration and Supervision Package to strengthen the regulatory and supervisory framework. Their joint statement seeks less legal uncertainty, stronger cost-benefit assessment, a secondary competitiveness objective for the European Securities and Markets Authority, better sequencing of new rules, and less supervisory duplication.