Mick McAteer, board member of the UK Financial Services Authority (FSA) and chairman of the European Commission's Financial Services User Group (FSUG), said that he was "quite optimistic" when he saw that the Commission was working on a Green Paper on long-term investing. "When I actually read the paper, it was not about making markets more transparent for investors, but it was more about creating new markets for pension funds and for the private sector. So again, I'm afraid the Commission and policymakers have the wrong end of the stick when it comes to creating efficient markets."
Karel van Hulle, market and services head of unit at the European Commission, stressed that Brussels was currently considering whether the markets offer the right products for long-term investors as part of its drafting process of the Green Paper on Long-Term Investing, and said that the Commission was looking at a number of sectors, including infrastructure, in its green paper.
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