According to Bloomberg, EU Financial Services Commissioner Maria Luis Albuquerque stated that the EU plans to begin implementing its capital market integration reform plan by 2027, marking the first time a clear timetable has been set for the reform. The EU intends to transfer more regulatory and enforcement powers to the European Securities and Markets Authority (ESMA), unifying the supervision of clearinghouses, central securities depositories, trading venues, and crypto firms.



The proposal still requires approval from the European Parliament and the Council of Member States. Albuquerque said that this reform would be a "fundamental reshaping" of the EU's capital market system, rather than a fine-tuning.
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