"The ESAs - the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA) - have a leading role in promoting transparency, simplicity and fairness in the market for consumer financial products and services across the internal market. Their main tasks include contributing to the protection of consumers across the European Union; collecting, analysing and reporting on consumer trends in the European Union; reviewing and coordinating financial literacy and education initiatives; developing training standards for the industry; contributing to the development of common disclosure rules, and monitoring existing and new financial activities."