The European parliament is pushing to give companies greater freedom to choose the authority that vets their prospectuses when they issue bonds in the European Union under new rules to improve cross-border investment.

An influential parliamentary committee agreed last week to allow issuers of bonds of more than €1,000 to choose which authority would oversee their prospectuses. This is well below the €5,000 threshold contemplated in the most recent draft of the proposal and the €50,000 initially suggested by the European Commission.