In brief
- The plan includes auto-enrolment pensions, tax incentives, and steps toward market integration.
- Oversight changes could give ESMA a role in supervising crypto and cross-border infrastructures.
- The push follows warnings on stalled reforms and comes amid debate over the digital euro.
The European Union is preparing a year-end push to expand pension savings and tighten oversight of markets, with plans that could hand its Paris watchdog new authority over crypto firms.
Speaking at the Eurofi Forum in Copenhagen on Thursday, Financial Services Commissioner Maria Luís Albuquerque said the package will cover pension auto-enrolment, tax incentives for savings, and steps to cut cross-border barriers in trading, alongside a debate over shifting key supervisory powers to the European Securities and Markets Authority.
“We are looking at possible centralized supervision of certain market infrastructures, such as central counterparties, central securities depositories, and trading venues,” Albuquerque said during the forum. “We also see the benefit of more centralized supervision for new and rapidly evolving areas where supervisory capacities need to be up to the task, such as Crypto Asset Service Providers.”
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Author: Vince Dioquino
