Recital 77

(77) The increasing integration of markets heightens the risk of cross-border market abuse. To protect market integrity, competent authorities should cooperate in a swift and timely manner, also with ESMA. To strengthen such cooperation, ESMA should be able to act at the initiative of one or more competent authorities to facilitate the collaboration of competent authorities with the possibility of coordinating any investigation or inspection that has cross-border effect. Collaboration platforms established by the European Insurance and Occupational Pensions Authority have proven to be useful as a supervisory tool to strengthen the exchange of information and to enhance collaboration among authorities. It is therefore appropriate to introduce the possibility also for ESMA to, at the initiative of one or more competent authorities, set up and coordinate such platforms in the field of securities markets when there are concerns about market integrity or the proper functioning of markets. Considering the strong relations between financial and spot markets, ESMA should also, at the initiative of one or more competent authorities, be able to set up such platforms with public bodies monitoring wholesale commodity markets, including the Agency for the Cooperation of Energy Regulators (ACER), when such concerns affect both financial and spot markets.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-17 · Text as adopted (Official Journal); later amendments are not incorporated in this text.