The development of a Capital Markets Union (CMU) has progressed significantly since the publication of the European Commission Green Paper (February 2015).
The European asset management industry has witnessed a solid growth in recent years, reaching an estimated €19 trillion in assets under management (AuM) at the end of 2014, divided almost equally between discretionary mandates (largely serving institutional investors) and investment funds.
After a year-long exercise with a wide group of stakeholders, including academics, policy-makers and industry experts, CEPS and ECMI will launch the final report of the European Capital Markets Expert Group (ECMEG): Europe's Untapped Capital Market: Rethinking Integration After the Great Financial Crisis.
Neither the CSFI (a London-based think-tank) nor CEPS has an institutional position for or against Brexit – although the CSFI did publish a survey of City opinion in 2015, which found that 73% of respondents would either 'definitely' or 'probably' vote for the UK to remain part of the EU in the event of a referendum. (That said, virtually no one who was surveyed had anything good to say about the EU: it was simply a question of preferring the devil you know to the devil you don’t know).
The event started with a presentation of the main findings of the recently published PwC’s Global financial markets liquidity study, which reviewed liquidity trends and prospects across a broad range of asset classes and international markets. This was followed by a panel discussion and Q&A session. Please find below details about the event.
The ECMI Annual Conference is a landmark event in Brussels that brings together policy-makers, academics and international experts to discuss challenges for European capital markets integration policies and global financial reforms.
This workshop is part of a series of four half-day workshops that are being held over two days – the first two on 2nd June and the other two on 7th July. This series of workshops builds on the demand from delegates at our highly successful and well-attended MiFID conference, which was held on 27th January this year, for a series of highly focused, specialist events.
The European Commission’ plan to introduce a European Capital Markets Union (ECMU) by 2019 will present significant opportunities to UK banks, asset managers and insurers.
The U.S. Chamber of Commerce’s Global Risk and Governance Initiative (GRGI) will be hosting Professor Anjan Thakor, John E. Simon Professor of Finance and PhD Program Director at the Washington University in St. Louis Olin School of Business, to discuss these issues, as outlined in the recent report International Financial Markets: A Diverse System is the Key to Commerce.