Parliament has voted for the package of reforms to the European supervisory architecture which will create what it describes as authorities with "bite". It says that although the Commission's original proposals for powers for the new European Supervisory Authorities (ESAs) were watered down because some Member States objected, the package it has now agreed will give the ESAs power over domestic regulators and, where necessary, directly over firms. They will also have power to investigate products or institutions for the purpose of ensuring consumer protection.