The Commission is currently preparing a mid-term review of the Action Plan on Building a Capital Markets Union to be published in early June. This will be an important milestone in assessing the effectiveness of the measures taken so far to address policy challenges, and in further shaping the CMU to ensure it boosts the capacity of the EU to support a resilient non-bank financial ecosystem. This review takes place at a time when the Commission has delivered the large part of the measures foreseen in the initial Action Plan, and at a time when the context for this ambitious reform programme is in flux.
To inform the next stage in building CMU, the EC has launched a public consultation on 20 January inviting stakeholders to provide their views on how to complement and strengthen the initial programme of actions by mid March.
The public consultation will be followed by a public hearing on CMU which will take place in Brussels on 11 April. The EC expects in excess of 400 participants (drawn from industry, investors, Member States, national and European authorities and other interested stakeholders) and wide media interest. The hearing is intended as an integral part of the process of identifying useful actions for inclusion in the revised CMU action plan.
The public hearing will gather Vice-President Dombrovskis will open proceedings by presenting the Commission’s approach towards the preparation of the mid-term review and preliminary results of the on-going public consultation.
The programme of the public hearing will then be organised around four panel discussions:
- Exchange of views on the implementation of the CMU roadmap so far and key challenges and priorities for the mid-term review;
- Promoting access to finance for European SMEs
- Better investment opportunities for retail and institutional investors
- Improving the functioning of the single market by removing barriers to cross-border flow of capital.
ECN will participate in the panel discussions in order to provide further feedback on the interests of the European crowdfunding sector.