Deloitte comments on the EU Commission’s Capital Markets Union (CMU) green paper
David Strachan, Head of Deloitte’s EMEA Centre for Regulatory Strategy, said: “The Commission has taken a pragmatic approach in developing a CMU. We support a period of analysis to identify the barriers to a CMU, rather than jumping in with regulatory proposals. The focus will be on finding market-based solutions to these barriers, so that the new regulations will be a last rather than a first resort.
This should avoid a sprawling new legislative programme and will not add to the pressure on market participants as they continue to implement post-crisis reforms. However, the challenge will be to hold this line if Member States or the European Parliament seek to be more ambitious in terms of their interventions.”
Source: Deloitte
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