The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published its Strategic Orientation for 2020-22. The Strategic Orientation sets out ESMA’s future focus and objectives and reflects its expanded responsibilities and powers following the ESAs Review, and EMIR 2.2, which increases its focus on supervisory convergence, strengthens its role in building the Capital Markets Union (CMU) and gives it with more direct supervision responsibilities.
Speech by Luis de Guindos, Vice-President of the ECB, at the SUERF/De Nederlandsche Bank Conference “Forging a new future between the UK and the EU”
The EBRD has sold its 10 per-cent stake in Borsa Istanbul. The Bank had been a shareholder in Turkey’s sole exchange since December 2015. The EBRD remains committed to further supporting the development of Turkish capital markets.
The coming years will see new prospects and challenges for European products and services, according to the European Economic and Social Committee (EESC). Providing innovative, highly specialised products and services with well-recognised and certified key characteristics can boost European competitiveness, says the EESC.
The measures target the financial, energy and defence sectors, and the area of dual-use goods. They were originally introduced on 31 July 2014 for one year in response to Russia’s actions destabilising the situation in Ukraine and strengthened in September 2014.
The European Commission welcomes the provisional political agreement reached yesterday evening between the European Parliament and the Council on its proposal to boost Crowdfunding in the EU. The proposal, a key building block of the Capital Markets Union, aims to harness the opportunities presented by emerging technology-enabled innovations in the financial sector, known as FinTech. With this agreement, 12 out of 13 Capital Markets Union legislative proposals have been adopted or agreed at EU level.
EP negotiating team reached a deal with the Council on Wednesday on EU-wide rules to help crowdfunding services function smoothly and foster cross-border business funding.
The EU will soon have in place new rules to improve the way crowdfunding platforms operate. The initiative is part of the capital markets union which aims at providing an easier access to new financing sources.
Finland’s presidency of the Council and the European Parliament reached a political agreement on a new framework which makes it easier for crowdfunding platforms to provide their services across the EU. Following finalisation of technical work, the deal will be submitted for endorsement by EU ambassadors.