search

EU Sees ‘Decisive Moment’ for Building Single Capital Market

LONDON—The European Union set out its third wave of reforms in six years on Thursday to try to build a seamless securities market that can compete better with London and New York, a step that will pit stock exchanges against rival platforms. The EU project to create a capital markets union (CMU) suffered a blow when Britain and its large financial sector left the bloc. To keep the project on track, the EU’s executive European Commission proposed establishing a “tape” or record of stock and bond prices, and giving investors free information on companies. It also proposed tweaks to long-term investment funds, and plans to better coordinate how they are regulated. The Commission wants to make it easier to raise money for companies to meet climate goals and recover from the financial blow of the COVID-19 pandemic. Brexit also leaves Brussels with a financial competitor on its doorstep. “It’s important …

Related Post

This website uses cookies.