The Commission is planning to redraw rules for financial markets in a bid to boost the EU’s global competitiveness.

The European Union’s executive arm will propose a sweeping package of reforms in a bid to break down national boundaries and create a deeper EU financial market to rival that of the United States.

Three people briefed on the plan told POLITICO the European Commission will in December propose amending at least 10 financial laws spanning everything from the regulation of investment products and cryptocurrency to the design of the EU’s financial plumbing.

The overarching aim is to make more investment available to Europe’s struggling industry in an effort to keep pace with faster-growing competitors in the U.S. and China.