Odaily Planet Daily reports that the European Union has set a year-end target for further measures to boost pension investments and streamline trading processes, in an effort to inject momentum into the revival of Europe's capital markets. EU Financial Services Commissioner Albuquerque unveiled the plan on Thursday. She also announced that the European Commission is considering granting direct supervisory authority to the European Securities and Markets Authority (ESMA), its top market regulator based in Paris.

She said that with the transfer of regulatory powers to ESMA, the European Commission will consider the feasibility of centralized supervision of certain market infrastructures, such as central counterparties, central securities depositories, and trading venues. She added that emerging sectors such as crypto asset service providers would also benefit from more centralized supervision, and stressed that this move would not weaken the role of national regulators. (Jinshi)