Commission launches public consultation on the Capital Markets Union Mid-Term Review

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As part of its efforts to achieve a Capital Markets Union (CMU) with tangible impact, the Commission services have launched a public consultation on the planned CMU mid-term review. This consultation offers an opportunity for stakeholders to provide targeted input to complement and advance actions put forward in the CMU Action Plan.

European Commission Vice-President Valdis Dombrovskis, responsible for Financial Stability, Financial Services and Capital Markets Union, said: “We have built good momentum behind the Capital Markets Union project and we are well on our way to completing the first wave of measures. Now, we want to move faster and be more ambitious. This mid-term review consultation will help shape the next phase of our work to build a single market for capital in Europe.”

European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth and Investment, said: “Progress towards building a Capital Markets Union is crucial to strengthen the third pillar of the Investment Plan for Europe. It will contribute to creating an investment friendly environment and make it cheaper and more interesting for insurance companies and banks to invest in long-term infrastructure projects. We are determined to deliver on our commitments and the mid-term review will allow us to ensure that the Capital Markets Union Action Plan remains relevant in a changing political, economic and technological context.”

European Crowdfunding Network Executive Director Oliver Gajda added: “The Capital Market Union has generated much needed attention to alternative funding and especially crowdfunding over the past two years. We have seen this in the discussions around the Prospectus laws that in the end provided a very positive signal and made specific reference to the sector. Still, the direct measures of the Capital Market Union have been too focused on large, incumbent markets, and we are looking forward to the next two years being more focused on the crowdfunding, alternative finance, fintech sectors.

The results of this consultation will feed into the mid-term review of the CMU Action Plan that the Commission aims to publish in June 2017. The review will seek to strengthen the current policy framework for the development of capital markets by updating the proposed actions and integrating complementary measures in response to key challenges.

Respondents are invited to provide evidence-based feedback and specific suggestions by 17 March 2017 through the online questionnaire. A Q&A is available online.

For information on the current activities of ECN with regard to the Capital Market Union please see here. For information on our intervention in the making of the new Prospectus Laws, see here.

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