Bruegel senior scholar Nicolas Véron speaks with Steven Maijoor, the chair of ESMA, about the future of the Capital Markets Union (CMU), and of the EU's financial supervisory architecture.
Currently, the organisation of the European Supervisory Authorities (ESAs) is based on a sectoral approach with one ESA for each sector: separate authorities for banking, insurance, and securities and markets.
Maijoor's institution, ESMA, is an independent EU Authority that contributes to safeguarding the stability of the European Union's financial system by enhancing the protection of investors and promoting stable and orderly financial markets. What does he think about the future of CMU, and the regulatory changes that might entail?
Nicolas Véron, senior fellow at Bruegel, and a visiting fellow at the Peterson Institute for International Economics in Washington
Steven Maijoor, chair of ESMA
Produced by Giuseppe Porcaro and Bryn Watkins