Page 42 - 期货和衍生品行业监管动态（2025年12月）

期货和衍生品行业监管动态

rules and supervisory practices. By removing barriers in trading, post-trading and

asset management, and by enabling more harmonised supervision, the package will

help market participants operate more seamlessly across the Single Market and

support scale, efficiency and better outcomes for investors and businesses. We also

welcome the strong focus on streamlining regulatory requirements, reducing

administrative burden, and facilitating innovation. All of this will enhance the

competitiveness and agility of EU capital markets.

A key element of the package is the proposed transfer of direct supervision of

certain significant cross-border infrastructures and crypto-asset service providers to

the EU level. ESMA stands ready to take on these specific responsibilities, drawing

on almost 15 years of growing experience supervising diverse and selective parts of

our capital markets.

This proposal represents a shift in supervision for a limited subset of our capital

markets, in which ESMA would work hand in hand with the National Competent

Authorities (NCAs) to develop the capacity and expertise to take on such new

responsibilities. At the same time, for the broader market that remains under national

supervision, coordinating supervisory standards and achieving aligned outcomes

across the EU remains a key priority. This would be reinforced for example by giving
ESMA an enhanced convergence role for large cross-border asset management

groups.

Today’s proposal forms a central pillar of the Commission’s Savings and

Investments Union (SIU) strategy. ESMA looks forward to working with the

co-legislators as they advance this important initiative to build deeper and more

integrated EU capital markets.

https://www.esma.europa.eu/press-news/esma-news/esma-welcomes-commissions-am

bitious-proposal-market-integration

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