The European Commission has published a package of measures that are part of its Savings and Investments Union strategy to optimise the EU’s single market for financial services. The plans include giving the European Securities and Markets Authority direct supervision powers over significant market infrastructure, including certain trading venues, central counterparties, depositaries and crypto-asset service providers. Esma would be able to issue Pan-European Market Operator status to trading venue operators, facilitating more efficient corporate structures and providing single licensing. The Commission is also seeking to streamline cross-border distribution for Ucits and alternative investment funds by removing obstacles posed by national rules and giving Esma a greater co-ordinating role for the asset management industry. It says the rules and procedures relating to marketing notification, de-notification and pre-marketing are unnecessarily lengthy, complex and divergent, hindering the seamless cross-border operation of Ucits and Aifs within the single market.