Capital Markets Union: Taking stock of the progress made so far

The Commission is today taking stock of the progress made in the first six months since the adoption of the Capital Markets Union Action Plan and it is publishing the first CMU status report. The Capital Markets Union is an important element of the Commission’s priority strategy to support jobs, growth and investment and is a key building block of the Investment Plan for Europe. The objective of the Capital Markets Union (CMU) is to diversify and amplify sources of finance and ensure that capital can move freely across borders in the Single Market and be put to productive use. Commissioner Jonathan Hill, responsible for Financial Stability, Financial Services and Capital Markets Union said: This report shows that we have made good on the pledges we set out back in September, when we launched the CMU action plan. We’re on time and driving issues forward. Looking ahead, I want to start to tackle some of the longer-term issues: we have already launched a consultation on business restructuring and insolvency and we are going to shortly kick off work on laying the foundations for a stronger European personal pensions market. We will also bring forward a package of measures to stimulate European venture capital markets and launch a consultation to improve passporting rules for the cross-border distribution of investment funds. To maintain momentum, I will continue to report regularly on progress made and to back-up my policy measures with strong economic analysis.“A press release is available online