Getting Closer To A Single Capital Market In The EU

On March 8, 2018, the Directorate‑General for Financial Stability, Financial Services and Capital Markets Union, a department within the European Commission, published its final version of the FinTech Action Plan¹ ("Action Plan"), which aims to enable innovative business models to reach an EU scale as well as to support technological innovation and enhance the security of the financial sector.

The Capital Markets Union (CMU) – one of the Commission's most important projects for the regulation of the financial markets – was initiated in September 2015. The goal of the CMU is to foster a single capital market by increasing cross-border activity, creating deeper and more liquid markets and encouraging greater diversity of funding sources for the real economy. The plan is for capital to benefit small and medium-sized enterprises and infrastructure projects, and promote growth and employment, especially by providing better access to financing and improving financial