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EU financial markets agency wants more powers
By EUobserver
The Paris-based European Securities and Markets Authority (ESMA) told the European Commission, in a letter sent on Tuesday, that it wants more powers over credit rating agencies and clearing houses, including the option to impose higher fines. Supervision is mostly done at national level now, but ESMA said "a new balance" must be struck, in light of the Capital Markets Union project and the UK leaving the EU.