ESMA

ESMA, short for the European Securities and Markets Authority, is the European Union's securities regulator, responsible for investor protection, market integrity, and financial stability across EU financial markets. It is the closest European counterpart to the SEC in the United States.

ESMA sets and coordinates rules that individual EU national regulators then apply within their own countries, aiming for consistent oversight of markets across the whole bloc rather than having every country regulate securities in an entirely separate way.