The case for Europe's own SEC

Unified oversight of financial markets within the European Union, along with a consolidated tape of trading data, would strengthen consistency of regulatory standards, plus enhance market integrity, competitiveness and growth. There would be significant ramifications both in and outside the bloc, comments Monique Melis.

Monique Melis is managing director and global head of Financial Services Compliance and Regulation at Kroll. Based in London, she has previously worked at the UK regulator, and has expertise on a wide range of regulatory matters: www.kroll.com/en/our-team/monique-melis.

The European Union's financial markets watchdog has proposed a landmark initiative: centralising its regulatory powers to act as the EU's version of the United States Securities and Exchange Commission (SEC). This move is a call for unified oversight in a globally interconnected economy, where fragmented regulation is no longer sufficient.