Joint Trade Associations Statement on Enhancing the EU Legislative and Supervisory Framework

Brussels, 2 July 2026 – On July 1, the European Banking Federation (EBF) and 11 other trade associations co-signed a joint statement calling on EU policymakers to use the Market Integration and Supervision Package (MISP) as an opportunity to strengthen the EU’s regulatory and supervisory framework.

The statement highlights the importance of reducing legal uncertainty and ensuring more robust cost-benefit assessments of regulatory measures, with the aim of strengthening the competitiveness and attractiveness of EU capital markets in an increasingly global environment.

In particular, the associations call for:

• Embedding a secondary competitiveness objective within the European Securities and Markets Authority’s (ESMA) mandate, ensuring that the impact of regulatory decisions on the attractiveness of EU capital markets is systematically taken into account.
• Improving the sequencing of EU financial legislation, so that new obligations apply only once the necessary technical standards have been finalised, while also providing ESMA with effective no-action relief powers where appropriate.
• Promoting a more efficient and coherent supervisory framework by avoiding unnecessary duplication and fragmentation, thereby contributing to deeper, more integrated and internationally competitive EU financial markets.

For more information:

Jacopo Borgognone, Head of Capital Markets – j.borgognone@ebf.eu

Emanuela Manenti, Policy Adviser of Capital Markets – e.manenti@ebf.eu

About the EBF:

The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe. The federation is committed to a thriving European economy that is underpinned by a stable, secure, and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.