EU financial markets: new supervisory tasks for ESMA

8 December 2025

The European Commission has published a package of legislative proposals aiming to integrate EU financial markets, which include proposals to transfer the supervision of significant EU financial market infrastructure and of EU crypto-asset service providers from national competent authorities to the European Securities and Markets Authority (ESMA).

This briefing provides an overview of the proposed criteria for determining which operators of regulated markets and other trading venues, central securities depositories, central counterparties and crypto-asset service providers would come under ESMA supervision.

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