Catenaa, Sunday, November 02, 2025-The European Commission plans to propose creating a single financial supervisor overseeing stock exchanges, crypto platforms, and clearing houses, modeled after the US Securities and Exchange Commission, according to a report by Financial Times.
The proposal, expected in December, seeks to simplify how European firms operate across borders by reducing layers of national and regional regulation.
It may expand the authority of the European Securities and Markets Authority to include cross-border entities such as crypto exchanges and large asset managers.
European Central Bank President Christine Lagarde and former ECB chief Mario Draghi support the move, which aligns with efforts to build a “capital markets union.”
Lagarde has also backed Germany’s call for a single European stock exchange.
The Commission told the FT it is still exploring “EU-level supervision” for key infrastructures, including central counterparties, securities depositories, and trading venues.
However, not all member states are convinced. Luxembourg and Dublin have voiced concerns that a centralized regulator may overlook the interests of smaller financial hubs.
If advanced, the proposal will undergo legislative scrutiny by the European Parliament and Council, a process that could continue into 2026. The plan adds to ongoing EU initiatives to strengthen oversight of digital assets and expand work on a potential digital euro.
