CMU: New European Commission action plan
On 24 September 2020, the European Commission published its new action plan to boost the Capital Markets Union (CMU).
Following on from the first action plan presented in 2015, this new initiative aims to advance the achievement of a single market for financial services and has 4 key objectives: financial recovery from the COVID-19 pandemic; transition to a green economy, digital transformation and giving SMEs access to the EU's capital markets, inclusive economy and global competitiveness.
To do this, 16 priority measures have been identified, which aim to:
- Boost investor protection to better support cross-border investments.
- Create a single access point to provide investors with company information.
- Promote investment in European businesses.
- Simplify listing rules.
- Harmonise rules on bankruptcy and taxation to a certain extent, as well as supervision by national authorities.