Towards A Banking Union?

At the level of the European Union (EU) and in particular in the European financial sector, this year we should see further steps towards integration, with the final goal of realising a union of the European financial markets. The European Securities and Markets Authority (ESMA) has published its 2017 Supervisory Convergence Work Programme which promotes "sound, efficient and consistent supervision across the EU".

According to the programme, ESMA and competent national authorities will focus their supervisory convergence work on several priorities such as (i) the implementation of MiFID II¹/MiFIR; (ii) investors' protection in the context of cross-border provision of services; and (iii) convergence in the supervision of European Union CCPs (Central Counterparties).