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 it falls short of c
In the aftermath of the great financial crisis, the lack of risk diversification in the European financial system, i.e.
In December 2014, ECMI and CEPS formed the European Capital Markets Expert Group (ECMEG) with the aim of providing a long-term contribution to the debate on the Capital Markets U
The financial and economic crises have led to an enormous plumbing exercise, involving a fundamental re-design of the global and European regulatory and supervisory system.
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 (rather general) p
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 recognition of the n
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 legislators for years to
In the midst of the market turbulence of recent years, policy rates have reached the zero lower bound, with central banks aggressively deploying their balance sheet with an array of ‘unconventional
The call for a Capital Markets Union has been a useful device to raise awareness about the need for more integration in Europe's capital markets.
ESMA, the European watchdog of securities markets, has announced its intention to take a closer look at so-called ‘closet trackers’, with a view to identify whether there is a potential need for a
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