Refine
Year of publication
- 2020 (1)
Document Type
- Working Paper (1)
Language
- English (1) (remove)
Has Fulltext
- yes (1)
Is part of the Bibliography
- no (1)
Keywords
- CMU (1) (remove)
Institute
- Center for Financial Studies (CFS) (1) (remove)
The European Commission is trying to reboot the CMU project: The High-Level Forum on Capital Markets Union – a group of 28 selected experts from industry, academia and civil society – is expected to submit policy recommendations by the end of May 2020 which will feed into the Commission’s new CMU agenda. This contribution is largely based on a letter to the High-Level Forum that gives feedback on the Interim Report published in February. There, we introduce a comprehensive approach to distinguish, from a functional finance perspective, between the ‘game changers’ and what is nice to have. We highlight the importance of common and consistent supervisory practices across Member States and recommend building up a European Securities and Exchange Commission (E-SEC) according to the American model.