Capital Markets Union
Building a Capital Markets Union (CMU) serving the needs of European citizens and businesses is as ambitious as it is essential: the effort will enable pensioners and savers to share in the upside of Europe’s economic recovery. In the process, European capital markets also become more efficient and better integrated. This long-term vision is key to financing European innovation and to supporting the transition towards a more sustainable economy.
Increasing retail investors’ participation in capital markets is an essential component for building an effective CMU. Improving access to financial and non-financial information and addressing the high data costs our industry is encountering, are also important steps towards a functioning CMU. All this, while maintaining and improving the attractiveness of the European investment management sector in today's global environment.
EFAMA prepared a list of key actions that are required to reach the CMU objectives from an investor perspective. We have also developed a specific Key Performance Indicator to measure year-on-year progress towards increasing retail participation in capital markets in each member state.
The PEPP - Engaging the young generation of European savers
EFAMA Response to EC Consultation: Capital Markets Union mid-term review 2017
• EFAMA reiterates the European asset management industry’s strong support for the CMU project in all its dimensions. We welcome the range of initiatives, from the overarching aim of rebuilding confidence in financial markets by putting investors’ interests at the heart of the project, to the promotion of market-based financing of the economy, the development of a PEPP or the development of a comprehensive strategy on sustainable finance.
Review of EU Macro-Prudential Policy Framework - EFAMA response to EC Consultation
EFAMA welcomes the opportunity to respond to the European Commission’s consultation envisaging the review of the EU macro-prudential policy framework. The consultation paper emphasises the review of the existing prudential framework built around the systemic nature of credit institutions and at the cornerstone of which lies the CRD/CRR, accompanied by the ESRB Regulation and the foundation of a Single Supervisory Mechanism (SSM) for a Banking Union, in turn revolving around the ECB.
An ambitious CMU Action Plan that will need strong political support from Member States
Building a Capital Markets Union (CMU) that serves the needs of European citizens and businesses is an ambitious yet, essential - project that requires a long-term political vision, determination and perseverance.
The new CMU Action Plan adopted today by the European Commission, which largely builds on the recommendation of the CMU High-Level Forum, is a milestone in the journey towards the realisation of this ambition for Europe.
EFAMA calls for use of KPIs to monitor national progress in household participation in capital markets
EFAMA has today published a report entitled 'Household Participation in Capital Markets Assessing the current state and measuring future progress'. This publication precedes the European Commission's forthcoming new Action Plan on the Capital Markets Union (CMU). It includes ten concrete policy recommendations to help advance the CMU, including the introduction of a Key Performance Indicator (KPI) to monitor progress in household participation in capital markets.
EFAMA welcomes the vote of the European Parliament's ECON amending proposal on cross-border distribution of funds
The Committees vote confirmed important amendments to the Commissions original proposal, i.e. extending the premarketing definition to established EU AIFs and removing the numerical thresholds conditioning the de-notification of funds from host jurisdictions.
Household Participation in Capital Markets
This publication precedes the European Commission's forthcoming new Action Plan on the Capital Markets Union (CMU). It includes ten concrete policy recommendations to help advance the CMU, including the introduction of a Key Performance Indicator (KPI) to monitor progress in household participation in capital markets.
Household Participation in Capital Markets - Country Statistical Profiles
3 questions to Sheila Nicoll and Alexander Schindler on the Capital Markets Union High Level Forum
Q #1 What is the difference of the High-Level Forum report to previous initiatives on the Capital Markets Union? What is different this time around?
