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Capital markets growth in the EU:  expected impacts of the CMU action plan and future steps

Day 2 Morning

Thursday 14 September

Room :

ROOM 1

Speakers

Chair
David Wright
-
Public Authorities
Marie-Anne Barbat-Layani
Chair - Autorité des Marchés Financiers (AMF)
Amalia  Cordero
Head of Unit Financial Legislation, Secretary General of the Treasury and International Finance - Ministry of Economy and Digitalization, Spain
Alexandra Jour-Schroeder
Deputy Director-General - DG for Financial Stability, Financial Services and Capital Markets Union, European Commission
Verena Ross
Chair  - European Securities and Markets Authority (ESMA)
Industry Representatives
Jos Dijsselhof
Chief Executive Officer - SIX Group
Simon Janin
Head of Governance and Public Affairs - Amundi
Tarek Tranberg
Head of Government Relations, Europe - Optiver

Objectives

This session focusing on the measures needed to foster more growth in EU capital markets, will discuss whether the combined set of measures proposed in the CMU action plans is sufficient to stimulate significant growth of capital markets in the EU, what are the priorities in this regard and what further measures may be needed in the future stages of the CMU to achieve this objective.

  1. What impact can be expected on the growth of EU capital markets from the combined set of CMU measures on the table? Which measures of the September 2020 action plan will have the greatest impact on EU capital market growth and will they be adopted by the end of this European political cycle (Q2 2024)? What capital market growth drivers are missing?
  2. Which drivers of capital market growth should be better exploited? Are there some new or additional drivers of the growth of capital markets that need considering? Should more emphasis be put on full harmonization or is a case-by-case flexible legislative approach optimal? Should CMU actions be more differentiated for Member States where capital markets are less developed?