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12 March 2021

Targeted consultation on the supervisory convergence and the single rulebook


There has been considerable progress on both supervisory convergence and the single rulebook since the three European Supervisory Authorities (ESAs) were created in 2011. Nevertheless, both require continued and appropriately targeted efforts to make further progress.

Objective of the consultation


In this context, the Commission’s capital markets union (CMU) action plan (AP) published on 24 September 2020 requires the Commission to work towards an enhanced single rulebook and to take stock of what has been achieved in supervisory convergence in Q4 2021.

The input to this consultation, which seeks to take stock of what has been achieved so far, will feed into the preparation of the report required by the CMU AP which will cover the review required under the ESAs founding Regulations as well. This consultation seeks targeted views on certain aspects related to the 2019 ESAs review and contributes to a wider debate on supervisory convergence and the single rulebook.

Full document

European Commission



© European Commission

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