University of Minnesota - UMN Executive Leadership Insights
Rebranding Capital Markets Union
Report

Rebranding Capital Markets Union

A Market Finance Action Plan

Karel Lannoo and Apostolos Thomadakis
CEPS, 2019
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Editorial Rating

7

Qualities

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Recommendation

The achievement of integrated capital markets in the European Union appears simple in concept but has proved difficult in execution. Local preferences often supersede cross-border harmony in critical areas like regulation and supervision. In this erudite report, analysts Karel Lannoo and Apostolos Thomadakis outline a plan to attain more standardized financial markets across EU countries. Policy experts, regulators and financial professionals will find here much worthwhile information on the challenges of building a single capital market in Europe.

Summary

Consumer, securities and corporate-oversight laws form a framework in which capital markets can operate efficiently and legally.

Capital markets have many interconnected moving parts, intermediated by a latticework of participants that helps them function properly: Successfully underwriting stock or bond issues rests importantly on the knowledge made available by government agencies, industry trade organizations, exchanges, credit rating companies, and accounting and law firms. Investors such as pension and investment funds foster market demand for traded securities...

About the Authors

Karel Lannoo is the CEO of the Centre for European Policy Studies and general manager of the European Capital Markets Institute. Apostolos Thomadakis is a researcher at both organizations.

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