Brussels, 20 September 2017
The Socialists and Democrats in the European Parliament today welcomed the European Commission’s plan to reform the micro-prudential supervisory architecture of the financial market players.
The architecture is built on three authorities - the European Banking Authority (EBA), the European Securities Market Authority (ESMA) and the European Insurance and Occupational Pensions Authority (EIOPA). These authorities were put in place following the 2008 financial crisis.