Anxiety grows over new powers for Esma

Asset managers, along with other financial companies, are concerned over how the new pan-European authority being set up to regulate the securities market will affect national watchdogs and impinge on their businesses.

The European Securities and Markets Authority, replacing the existing regulatory body, the Committee of European Securities Regulators, will have more decision-making power than its predecessor, raising the question whether the new body will intervene directly in the companies it oversees.

ESO: Background information: Pan-EU powers to target 'toxic products' http://www.europeansources.info/record/pan-eu-powers-to-target-toxic-products/

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