To switch animal metaphors, it is a watchdog without teeth. It can neither instruct the other regulators what to do (or not do) nor force member countries to comply with new regulations.
尽管如此，坦诚的评估必须承认，这只蜘蛛目前并没有抓住几只苍蝇。用动物作比喻，这是一只没牙的老虎。它既不能通知其他监管者做什么（或不做什么），也不能强制要求成员国遵守新监管。