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Developing equity financing for SMEs

Day 2 Afternoon

Thursday 12 September

Room :

Fennia II - Roundtable

Speakers

Chair
Sébastien Raspiller - Assistant Secretary, French Treasury, Ministry of Economy and Finance, France
Public Authorities
Carmine Di Noia - Commissioner, CONSOB
Michael J. McGrath - Assistant Secretary General, Department of Finance, Ireland
Mario Nava - Director, Horizontal Policies, DG FISMA European Commission
Industry Representatives
Lukasz Januszewski - Member of the Board, Markets & Investment Banking, RBI AG
Jorge Yzaguirre Scharfhausen - Director of the Equities, Derivatives and Fixed Income Markets, BME
Other stakeholder & expert
Niels Lemmers - Director, European Investors’ Association

Objectives of the session

This session will assess the importance of further developing equity markets for the financing of EU SMEs and the main barriers to the development of these markets on the issuer and investor sides.

This panel will also discuss the main policy priorities to support the growth of SME equity markets and whether they are appropriately reflected in the current CMU action plan.

Points of discussion

What is the present state of play of SME equity financing in the EU? How important is it to further develop equity markets for the financing of EU SMEs and achieving the CMU and does this differ across types of companies? Is developing investment in SME equity an appropriate goal for all investors in the present market and macroeconomic context?

What are the main barriers to the development of SME equity financing and investment in the EU and are these related to offer or demand factors? Do these barriers vary across the EU and what are the main challenges from an investor perspective?

What are the priorities for developing SME equity financing and investment in the EU? Are these priorities appropriately reflected in the current CMU action plan? Can market-driven actions be useful in some areas (e.g. sharing of best practices)?