The Commission is consulting, until 19 July, on the review of the European System of Financial Supervision (ESFS), composed of the European Supervisory Authorities (ESAs) and the European Systemic Risk Board (ESRB). The consultation covers:

  • the effectiveness and efficiency of the ESAs in accomplishing the tasks entrusted to them, including in relation to the single rulebook, consistent implementation of EU Acts, supervisory convergence and coordination, emergency interventions, and consumer protection and market integrity;
  • the governance of ESAs, which is guided by the principles of independence and accountability;
  • ESRB’s warning and recommendations on systemic risks and ESRB’s governance;
  • cooperation and interaction between the ESAs and ESRB; and
  • the structure of ESFS, with special consideration to the potential impacts of the single supervisory mechanism and to whether further adaptations are needed to the legal framework of ESFS.

(Source: Consultation on the Review of ESFS)