On Friday, 9 October 2026, the countries of the European Union reached an important agreement on expanding the powers of the European financial markets regulator. This measure is aimed at simplifying cross-border investments and helping companies raise capital across the bloc.
The agreement, called the "Markets Integration and Supervision Package," was approved by EU finance ministers at a meeting in Luxembourg. Its key element will be granting the European Securities and Markets Authority (ESMA) direct supervisory functions over large trading venues, clearing houses, settlement organizations and crypto-asset providers, which were previously supervised mainly at the national level.
Why is this needed?
Despite the existence of common rules, differences in their application and supervision by different countries have long led to the fragmentation of Europe's financial markets. ESMA's new powers, including the creation of a full-fledged independent executive board within the agency, are intended to make supervision more consistent and modern, including in the area of blockchain technology regulation.
The main goal of the reform under the "Capital Markets Union" initiative is to ensure the free movement of savings and investments across borders. This will give companies easier access to financing for growth, and will open up more opportunities for European citizens to earn income from their savings.
Nuances of the compromise
Certain concessions were required to achieve consensus. In particular, some trading venues managed by the German Deutsche Börse (the operator of the Frankfurt Stock Exchange) may remain under Germany's regional supervision, partially falling outside ESMA's direct control.
Nevertheless, negotiators assess the deal as a genuine breakthrough. Dutch Finance Minister Elco Heijnen welcomed the agreement, noting that "in 10 months, more progress was achieved than in the previous 10 years" on the integration of European financial markets.
This decision marks an important stage in the creation of a single, safe and efficient financial space for Europe, capable of better serving both businesses and ordinary investors.
Source: Euronews, 9 October 2026.
