Featured Product

    EC Completed Mid-Term Review of Capital Markets Union Action Plan

    June 08, 2017

    EC completed the mid-term review of the Capital Markets Union Action Plan. The mid-term review reports on the good progress made so far in implementing the 2015 Action Plan, with nearly two-third of the 33 actions delivered in twenty months. The review also sets timeline for the new actions that will be unveiled in the coming months. These will include a proposal for a pan-European personal pension product (PEPP) to help people finance their retirement. Furthermore, EC will continue its work on enhancing the supervisory framework for integrated capital markets, increasing the proportionality of the rules for listed small and medium enterprises and investment firms, harnessing the potential of fintech, and promoting sustainable investment.

    After almost two years since the launch of the Capital Markets Union Action Plan, EC is presenting a number of key initiatives to ensure that the reform program remains fit for the purpose. EC will advance on outstanding actions under the 2015 Action Plan by putting forward legislative proposals on a PEPP, an EU-framework on covered bonds, and a securities law to increase legal certainty on securities ownership in the cross-border context. The EC Vice Presidents Jyrki Katainen and Valdis Dombrovskis also gave their opening remarks on the occasion. According to the EC Vice President Jyrki Katainen, “The review is about creating new ways to increase investments in Europe. It is about providing capital to different types of needs. It is also about creating new markets, such as sustainable finance which is one of the opportunities we have to unlock.” The mid-term review sets out the following nine new priority actions:

    Strengthen the powers of ESMA to promote the effectiveness of consistent supervision across the EU and beyond

    Deliver a more proportionate regulatory environment for small and medium enterprise listing on public markets

    Review the prudential treatment of investment firms

    Assess the case for an EU licensing and passporting framework for fintech activities

    Present measures to support secondary markets for non-performing loans and explore legislative initiatives to strengthen the ability of secured creditors to recover value from secured loans to corporate and entrepreneurs

    Ensure follow-up to the recommendations of the High Level Expert Group on Sustainable Finance

    Facilitate the cross-border distribution and supervision of Undertakings for Collective Investment in Transferable Securities and alternative investment funds

    Provide guidance on existing EU rules for the treatment of cross-border EU investments and an adequate framework for amicable resolution of investment disputes

    Propose a comprehensive EU strategy to explore measures to support local and regional capital market development

     

    Related Links

    Press Release

    Mid-Term Review Action Plan

    Opening Remarks on Action Plan

    Consultation on Mid-Term Review 2017 

    Keywords: EC, Europe, Banking, Mid-Term Review, Securities, Capital Markets Union, Insurance, Action Plan

     


    Related Articles
    News

    FASB Proposes Taxonomy Changes Related to Topics 848 and 470

    FASB proposed taxonomy improvements for the proposed Accounting Standards Update on topic 848 on facilitation of effects of reference rate reform on financial reporting.

    September 16, 2019 WebPage Regulatory News
    News

    BoE Statement on Recalculating Transitional Measures Under Solvency II

    BoE notified that it will be willing to accept applications from firms to recalculate transitional measure on technical provisions (TMTP) as at September 30, 2019.

    September 16, 2019 WebPage Regulatory News
    News

    PRA Publishes Waiver by Consent of Continuity of Access Rules

    PRA published a new waiver by consent to waive the Continuity of Access requirements contained in the Depositor Protection Part of the PRA Rulebook (DPP).

    September 13, 2019 WebPage Regulatory News
    News

    EBA Single Rulebook Q&A: Second Update for September 2019

    EBA updated the Single Rulebook question and answer (Q&A) tool with answers to three questions.

    September 13, 2019 WebPage Regulatory News
    News

    BoE Paper on Market-Implied Systemic Risk and Shadow Capital Adequacy

    BoE published a working paper that presents a forward-looking approach to measure systemic solvency risk.

    September 13, 2019 WebPage Regulatory News
    News

    HKMA Consults on Policy Module on Pillar 2 Supervisory Review Process

    HKMA is consulting on the revised Supervisory Policy Manual module CA-G-5 that sets out the HKMA approach to conducting the supervisory review process under Pillar 2.

    September 13, 2019 WebPage Regulatory News
    News

    PRA Revises Branch Return and Updates Guidance for Regulatory Reports

    PRA published the policy statement PS17/19, which contains the final policy related to changes in the format and content of the Branch Return Form and reporting guidance.

    September 12, 2019 WebPage Regulatory News
    News

    ESA Report Highlights Risks of No-Deal Brexit in EU Financial System

    ESAs published a Joint Committee report on risks and vulnerabilities in the EU financial system.

    September 12, 2019 WebPage Regulatory News
    News

    ECB Modifies New Targeted Longer-Term Refinancing Operations

    The Governing Council of ECB decided to modify some of the key parameters of the third series of targeted longer-term refinancing operations (TLTRO III) to preserve favorable bank lending conditions (Decision (EU) 2019/1558).

    September 12, 2019 WebPage Regulatory News
    News

    ECB Publishes Version 1.5 of AnaCredit Validation Checks

    ECB published Version 1.5 of the AnaCredit validation checks.

    September 12, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3819