FEE: European accountants for more integrated EU Capital markets

02 October 2015

FEE strongly supports the EC’s efforts to create deeper and stronger capital markets. Professional accountants, in their diverse capacities, bring the indispensable trust, transparency and comparability that capital markets need and they advise SMEs on financing opportunities.

The proposals in the Action Plan align with FEE’s commitment to increasing European companies’ access to finance and making the financial system more resilient. FEE will especially contribute expertise and practical knowledge on the following proposals:

• Modernise the Prospectus Directive with a proportionate regime for SMEs to draw up prospectus and access capital markets
• Examine ways to address debt-equity bias as part of the broader work on tax policy
• Review regulatory barriers to small companies for admission to trading on public markets
• Set up an advisory capacity and structure to facilitate companies’ access to raise capital on public markets
• Explore with the IASB the possibility of developing a voluntary tailor-made accounting solution for companies admitted to trading on SME Growth Markets
• Examine the governance and financing of European Supervisory Authorities

Better Regulation, both at European and national level, will be essential in integrating capital markets. Legislation should be simpler, without overlaps, and should not pose extra burdens on stakeholders.

European SMEs should be at the centre of these efforts.  Therefore FEE, ESBG and UEAPME (European Association of Craft, Small and Medium-sized Enterprises) will shortly present common ideas on improving access to finance for all SMEs under the Capital Markets Union. FEE is ready to join forces with other stakeholders to advance the European economy on topics such as market integration and  SMEs’ access to finance.

Full press release

© FEE