23 April 2024

European Council conclusions, 17 and 18 April 2024

Capital Markets Union
e) advancing work in the Council and the Commission without delay on all identified measures that are necessary to create truly integrated European capital markets which are accessible to all citizens and businesses across the Union, to the benefit of all Member States, especially on:
i) harmonising relevant aspects of national corporate insolvency frameworks;
ii) fostering investments, including in cross-border equity, through targeted convergence of well-designed corporate systems for capital markets players and mechanisms;
iii) relaunching the European securitisation market, including through regulatory and prudential changes, using available room for manoeuvre;
iv) improving the convergence and efficiency of the supervision of capital markets across the EU. It invites the Commission to assess and work on the conditions for enabling the European Supervisory Authorities to effectively supervise the most systemic relevant cross-border capital and financial market actors, with the aim of strengthening financial integration and ensuring financial stability, simplifying processes and reducing compliance costs, taking into account the interests of all Member States;
v) improving the conditions for institutional, retail and cross-border investment in equity and for the financing and exit options of European scale-ups;
vi) ensuring a level playing field in access to private capital for all Member States;
vii) designing and implementing a simple and effective cross-border investment/savings product for retail investors; developing pensions and long-term savings products;
viii) creating an attractive and consumer-friendly investment environment and promoting an investor culture among EU citizens, including by strengthening financial literacy of citizens and promoting awareness-raising initiatives;
ix) reviewing and simplifying the financial market regulation framework to cut red tape;

EUCO conclusions

© European Council