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CMU action plan: are the priorities and delivery mechanism the right ones?

Day 2 Morning

Thursday 15 April

Track :

CMU 2.0

Speakers

Chair
David Wright
President - EUROFI
Public Authorities
Isabel Benjumea
MEP, ECON Committee - European Parliament
Rodrigo Buenaventura
Chairman - Spanish Securities and Exchange Commission (CNMV)
João Nuno Mendes
State Secretary - Ministry of Finance, Portugal
Laura van Geest
Chair - Dutch Authority for the Financial Markets (AFM)
Rimantas Šadžius
Member - European Court of Auditors (ECA)
Industry Representatives
Thomas Book
Member of the Executive Board - Deutsche Börse AG
Stefan Dörfler
Chief Financial Officer - Erste Group Bank AG
Christian Staub
Managing Director Europe - Fidelity International

Objectives

This session will discuss whether the new CMU action plan published by the Commission in September 2020 is the right way forward for achieving significant integration of capital markets in the EU. The panel will also assess the key success factors required for CMU, as well as the new opportunities and challenges created by Covid recovery policies and Brexit for the development of EU capital markets.

The objective of this session is to provide the audience with an overview of the actions proposed in the new CMU action plan and discuss their relevance, next steps and conditions of success in the current macro-economic context. Several other sessions during this April Seminar will assess in further detail different components of the CMU initiative including: equity financing, retail investment, investment funds, market infrastructure, transparency measures, securitisation…

Points of discussion

  1. Does the European Commission’s new CMU action plan contain the key priorities for ensuring significant integration of capital markets in the EU? Are any issues missing or insufficiently emphasized?
  2. Are the conditions in place for the success of this new action plan? What are the main challenges that need considering in its implementation? How to ensure sufficient political and industry commitment? Is the level of ambition sufficient for supporting post-COVID economic recovery?