file-o file-word file-excel file-powerpoint file-image file-archive file-audio file-movie file-code file-openoffice file-css menu googleplus facebook instagram twitter feed youtube vimeo2 lanyrd flickr picassa deviantart github wordpress blogger tumblr yahoo soundcloud skype linkedin lastfm delicious stumbleupon stackoverflow pinterest foursquare cross arrow-left arrow-down arrow-up arrow-right arrow-left2 arrow-down2 arrow-up2 arrow-right2 arrow-left3 arrow-down3 arrow-up3 arrow-right3 search

You are here

Joint ISDA/FIA Europe response - CMU Green paper and position paper

Joint ISDA/FIA Europe response - CMU Green paper and position paper

14 May 2015 1:00pm EDT

On 18 February the European Commission (Commission) launched its flagship Capital Markets Union (CMU) project with three consultation papers. The first is an overall policy green paper examining practical barriers and obstacles to creating a CMU. The paper looks at questions including availability and standardisation of SME credit information, the development of private placement markets, promoting greater liquidity in corporate bond markets, reducing the costs to fund managers of setting up and marketing funds across the EU, increasing retail investment, facilitating the access of EU firms to investors and capital markets in third countries, targeted changes to securities ownership rules, improving the legal enforceability of collateral and close-out netting arrangements cross-border and harmonisation of insolvency laws. The other consultations launched covered the revision of the Prospectus Directive and a consultation on Securitisation. All three consultations closed on 13 May.

The aim of the CMU project is to remove barriers that stand between investors and investment opportunities and to make the system for channelling those funds more efficient. It is the intention of the Commission to draw up a concrete action plan on future deliverables by Summer 2015 and to have a fully functioning CMU in place by 2019.

The joint ISDA/FIA Europe responded to the green paper, together with a joint ISDA/FIA Europe position paper on “lowering the barriers to capital Deployment in Europe” – a vision for derivatives markets in the Capital Markets Union.

Attachments

Icon
ISDA FIA Europe CMU Green Paper Response.pdf (75.96 KB)
Icon
ISDA FIA Europe CMU Position Paper.pdf (119.19 KB)

Close

Close

Menu

Menu

Back to FIA