Esma supervisory switch could become ‘distraction’
Push to transform watchdog might hinder market reforms, say some
Transferring supervisory responsibilities to the European Securities and Markets Authority (Esma) might not prove to be the ‘gamechanger’ the EU is looking for to boost the appeal of its markets. Instead, a regulator and large banking group warn it could distract legislators from other vital reforms.
Sven Kasper, international head of public policy at State Street, which owns a large asset
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