According to the Planet Daily, European Central Bank President Christine Lagarde proposed the establishment of a European institution corresponding to the US Securities and Exchange Commission (SEC) to change the European financial regulatory framework. The move is aimed at enhancing European financial capabilities and responding to the urgent challenges facing the region. The establishment of the European Securities and Exchange Commission will replace existing national regulators, simplify supervision and improve the efficiency of the entire European capital market. Lagarde also stressed the need for integration between European national financial exchanges to foster a strong economic environment and enhance Europe's position in the global financial field.