ESMA Calls For Increased Intervention Powers To Curb Risk
Law360, London (February 4, 2020, 12:18 PM GMT) -- Europe’s markets watchdog urged the European Commission on Tuesday to give it tougher powers to stop financial services companies marketing and selling products that threaten financial stability, after it repeatedly extended a temporary three-month ban on risky speculative options.
The European Securities and Markets Authority has asked the commission to hand it permanent powers to intervene.
Under existing arrangements the authority can prevent finance companies from marketing, distributing and selling shares, bonds and derivatives for three months if it suspects that a product is harmful to investors or threatens the functioning of the market. But ESMA said the temporary nature of...
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