S3 Ep3: The future of Capital Markets Union

Bruegel senior scholar Nicolas Véron speaks with Steven Maijoor,
the chair of ESMA, about the future of the Capital Markets Union
(CMU), and of the EU's financial supervisory architecture.
Currently, the organisation of the European Supervisory
Authorities (ESAs) is based on a sectoral approach with one ESA
for each sector: separate authorities for banking, insurance, and
securities and markets. Maijoor's institution, ESMA, is an
independent EU Authority that contributes to safeguarding the
stability of the European Union's financial system by enhancing
the protection of investors and promoting stable and orderly
financial markets. What does he think about the future of CMU,
and the regulatory changes that might entail?