The Romanian Presidency of the Council and the European Parliament reached a provisional agreement on a set of proposals to review the functioning of the current European system of financial supervision (ESFS). The deal will now need to be confirmed by EU ambassadors.
“In tough negotiations, S&D MEP Pervenche Berès succeeded today in reaching an agreement between the European Parliament and member states on an EU strengthened system of financial supervision comprising the necessary upgrade to counter money laundering.”
The Commission welcomes the political agreement reached by the European Parliament and Member States on the core elements of the reform of the European supervision in the areas of EU financial markets including when it comes to anti-money laundering. This is an important step to achieve the Capital Markets Union’s objective to ensure stronger, safer and more integrated financial markets to the benefit of European consumers, investors and businesses.
The Council confirmed its position on proposals to review the functioning of the current European system of financial supervision (ESFS). It invited the Romanian presidency to start negotiations with the European Parliament as soon as possible.