Welcome to the Brussels Edition. I’m Suzanne Lynch, Bloomberg’s Brussels bureau chief, bringing you the latest from the EU each weekday. Make sure you’re signed up.
The EU today unveiled a sweeping new plan to transfer more supervisory and enforcement powers to its markets regulator, a key part of its savings and investment union.
Under the proposal — first reported by Bloomberg last month — the Paris-based European Securities & Markets Authority will gain new powers over significant clearing houses, central securities depositories and trading venues. Crypto firms — for which the EU introduced a national supervision regime less than a year ago — will also fall under its remit.