ecoDa’s response to the Green Paper on Capital Markets Union

07.05.2015

ecoDa’s remarks in brief:

 

  •  the risk that the Commission reverts to its old instincts of believing that stricter regulation is the remedy to all problems in the EU, whereas in reality this in many cases aggravates the problems rather than solves them,
  •  the need to take the cultural diversities within the Union better into account than what has sometimes been seen in the past,
  •  the importance of creating positive incentives for SMEs to access the capital market rather than discouraging this through unnecessarily far-reaching regulation of listed companies,
  •  the fact that calculated risk-taking is the very lifeblood of the market economy and should not be looked upon with general suspicion and stifled through overly restrictive regulation.

 

ecoDa already highlighted the fact that the attractiveness of capital markets in the EU is not only a question of harmonization of regulations, but reflection should also be made whether the business model underlying the stock exchange is valid for all types of listed companies. A more thorough reflection on the specifics of (potentially) listed SMEs is therefore necessary in order to make the capital market a more viable route for all parties involved.