Lagarde’s Call for a “European SEC” Gains Traction in Brussels
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The vision of a unified financial watchdog for Europe is moving closer to reality. Backed by European Central Bank President Christine Lagarde, the European Commission is exploring plans to empower ESMA as a European equivalent of the US SEC.
This new authority would have a “broad mandate,” including direct supervision of major stock and cryptocurrency exchanges to mitigate systemic risk.
The proposal represents the most ambitious step yet in the EU’s quest to complete its capital markets union and strengthen its global financial standing.
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