In his assessment of the latest draft prospectus Regulation, Karel Lannoo argues that the text goes somewhat further than the European Commission has previously entertained, but
The European Commission’s new Action Plan for Capital Markets Union, unveiled on September 30th, consists in a nutshell of a short list of technical proposals and a longer one of
The concrete outcome of the Commission’s Action Plan for a Capital Markets Union (CMU) consists notably of a call for the removal of constraints to facilitate SME financing and r
The announcement of the creation of a capital markets union has led to a flurry of possible harmonisation proposals that could lead to new Action Plans that could preoccupy legis
This commentary provides a snapshot of the current status of the global OTC derivatives markets by: i) identifying general trends over the past decade, ii) looking at the changes in the market stru
As part of the European Union’s commitment to deliver greater access to finance for small- and medium-sized enterprises (SMEs), EU policy-makers will have to deal with a fragment
This commentary considers the implementation of the Alternative Investment Fund Managers Directive (AIFMD) by the European Commission.
Unveiled by the European Commission on July 3rd, the proposed Regulation on key information documents (KID) for packaged retail investment products (PRIPs) represents a step forw
The last intergovernmental agreement among 25 countries and the ESM Treaty will set the ground for greater institutional coordination on fiscal policies among euro area member st
This Commentary explores what will happen if Italy is not able to implement structural reforms and if international institutions, such as the EFSF and the IMF, do not intervene w
Although the drafts of MiFID 2.0, published on October 20th, follow largely what had been proposed by the CESR (Committee of European Securities Regulators) and the European Comm