In January 2011, the European Union established three European Supervisory Authorities (ESAs) for the financial sector: The European Banking Authority (EBA, in London), the European Insurance and Occupational Pensions Authority (EIOPA, in Frankfurt) and the European Securities and Markets Authority (ESMA, in Paris). Currently, the Commission is reviewing the regulations governing the three ESAs and will bring forward its proposals for amendments in early 2015.

The Commission wants to increase the stability and transparency of money market funds.

The EU Commission makes proposals for strengthening the internal market for occupational pensions. It wants to facilitate cross-border IORPs business, ensure effective supervision of IORPs and enhance governance. In addition it extends the obligations for providing information to members and beneficiaries and amends the investment rules.

The EU Commission wants to promote financing by way of crowdfunding.

The EU Commission wants to promote investment in NGA networks and maintain effective competition on the broadband market. It wants to do this by stricter non-discrimination obligations, greater clarity as to when obligations on price control for NGA networks should be removed and by imposing a standard costing methodology.

The Regulation prohibits "proprietary trading" by larger banks and permits the banking regulators to prohibit "trading activities" so that the trading concerned is only carried out by companies which are separate from the bank.

The Commission wants to introduce a EU-wide reporting obligation for securities financing transactions, tighten rules on the rehypothecation of securities and extend the information requirements for investment funds.

The EU Commission proposes an extensive overhaul of the digital single market rules. Part 3 of the cepPolicyBrief deals with the rules on roaming and cross-border connections within the EU.

Part 2 of the cepPolicyBrief deals with the notification requirement for telecomms providers, radio frequencies and virtual broadband access.

Part 1 of the cepPolicyBrief concerns net neutrality and the full harmonisation of the rights of end-users.

With the proposal for a Directive on a 2nd Payment Services Directive, the Commission wants to promote the European payments market and encourage transparency, security and innovation in relation to payments.

The Commission wants to restrict the level of interchange fees for card payments and eliminate anti-competitive business rules and practices.