EUROPE: EU finance ministers set Capital Markets Union priorities until 2029

European Union finance ministers on Monday set out priorities for creating a Capital Markets Union over the next five years to attract private capital to Europe and help fund the costly transition to a “green” and digital economy.
The priorities list key areas of work for the next European Parliament and executive European Commission, which will begin their terms in the second half of the year.
Below are the main issues the ministers want EU institutions to focus on until 2029:
its full list of suppliers.

THE COMMISSION
* Assess what is holding back the development of the EU securitisation market, including the prudential treatment of securitisation for banks and insurance companies, and reporting and due diligence requirements.
* Assess how to improve supervision. The aim is to strengthen financial integration, ensure financial stability, simplify processes and reduce compliance costs for supervised entities across the bloc.

* Propose ways of harmonising different national accounting rules so that corporate information can be compared more easily across borders.
* Further develop and improve the pan-European pension product (PEPP) to offer all citizens attractive pension options and make sure that pension savings are invested productively.
THE COMMISSION AND SUPERVISORY AUTHORITIES
* Assess how to cut the regulatory burden and transaction costs, in particular for smaller market participants.

THE COMMISSION AND EU GOVERNMENTS
* Make national corporate insolvency laws more similar, notably in the ranking of claims and insolvency triggers or the rules for financial collateral and settlement.
* Harmonise listing requirements across European stock exchanges to cut listing costs and make equity and bond financing more attractive, and examine how to improve access to market information.
* Develop simple and cost-effective cross-border investment and savings products for retail investors.

THE FINANCE INDUSTRY
* Offer easy-to-use and secure digital interfaces for all retail clients to access financial services across the EU.

26 April 2024

EU: EU Carbon Tax Creates Challenges for Some Developing Economies

The EU carbon border adjustment mechanism, or CBAM, represents a significant step in global efforts to address climate change. It’s been introduced in a transitional phase which started on Oct. 1,

Read More
31 January 2025

US: Trump Media Unveils $250M Fintech Venture Truth.Fi, Eyes Crypto and DeFi

TMTG will allocate $250 million into investments, Bitcoin, crypto, and crypto-related securities as part of the Truth.Fi rollout.It will offer traditional investment options as well as DeFi, crypto,

Read More
23 February 2024

US: Tax evasion by millionaires and billionaires tops $150 billion a year, says IRS chief

The nation’s millionaires and billionaires are evading more than $150 billion a year in taxes, according to the head of the Internal Revenue Service. The IRS, with billions of dollars in new funding

Read More
6 February 2024

UK: IHT Top Concern For Wealthy Individuals

New research released this week by RBC Wealth Management (part of the Royal Bank of Canada) looks at the top financial concerns of wealthy individuals across the UK in 2024. Inheritance tax, gifting

Read More