On July 1, ISDA and 11 other trade associations published a statement on enhancing the EU legislative and supervisory framework to support market competitiveness.
The statement highlights a significant opportunity to strengthen the EU’s regulatory and supervisory framework through the Market Integration and Supervision Package. It stresses that improving how financial services legislation is developed, implemented and supervised is essential to deliver the ambitions of the Savings and Investments Union. Key priorities include reducing legal uncertainty, ensuring robust cost–benefit analysis and avoiding unnecessary complexity to support innovation and attract global investment to EU capital markets.
The statement calls for embedding a competitiveness objective within the European Securities and Markets Authority’s (ESMA) mandate, ensuring regulatory decisions fully reflect their impact on market attractiveness. It also urges better sequencing of EU financial legislation, so obligations in primary legislation apply only once technical standards are finalized, alongside stronger no-action relief powers for ESMA.
The associations also emphasize the need for efficient, coherent supervision that avoids duplication and fragmentation, supporting deep, liquid and internationally competitive EU financial markets.
Documents (1) for Joint Association Letter on Enhancing EU Legislative and Supervisory Framework
Latest
An Important Step Towards Efficient Reporting
Of all the problems that have hindered effective trade reporting in the derivatives market, one of the most difficult to resolve has been duplication. In the EU, both parties to a trade are mandated to submit the same information, while...
The ISDA Notices Hub: One Year On
In times of war, armed forces are often required to mobilize over large distances at short notice. The most dreaded response to the question of how they are to be transported is ‘by LPC’, meaning ‘leather personnel carrier’ – the...
ISDA Response to OSC Call for Feedback
On June 26, ISDA responded to the Ontario Securities Commission’s (OSC) consultation on facilitating access to its regulatory framework and reducing the burden for capital markets participants by publishing a machine-readable dataset of regulatory instruments. ISDA's comments are supportive of...
ISDA Comments on EP's MISP Draft Reports
On July 15, ISDA shared comments with policymakers in the European Union on the European Parliament’s (EP) draft reports by Member of the European Parliament (MEP) Markus Ferber and MEP Eero Heinäluoma on the Market Integration and Supervision Package (MISP)....