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30 July 2015

TheCityUK: Chief Executive's Insight

TheCityUK launched two special reports in July, aimed at reforming the EU for strengthening UK's membership and at how Europe’s listings regime could be improved to help achieve the Capital Markets Union initiative.

TheCityUK EU reform programme of work continued this month with the launch of two comprehensive, evidence-based reports looking into ways Europe could be improved for the benefit of both our industry and its consumers. At the conference TheCityUK's Chairman, Sir Gerry Grimstone, launched 'EU reform: detailed proposals for a more competitive Europe'. The research outlines the strategic importance of the UK’s continued membership of a reformed EU and sets out proposals for creating a more competitive Europe. It calls for a renewed focus on completing a deep and strong Single Market and ensuring it is fit for purpose. The report’s 25 detailed proposals for reform are not about ‘more Europe’ or ‘less Europe’, but about creating a ‘better, more thoughtful Europe’. [...]

The organization followed this report with another based around the similar theme of reform - 'Capital markets for growing companies: a review of the European Listings Regime'. [...] It sets out proposals for how Europe’s listings regime could be improved to the benefit of investors and issuers across the whole of the EU, with particular focus on SME growth companies. [...] the report includes 26 detailed recommendations which, if implemented collaboratively by all key stakeholders will help to achieve the European Commission’s Capital Markets Union initiative. It will also assist in developing an equity culture across Europe that is capable of providing sustained sources of capital to European businesses.

A number of the issues raised in this report have been widely debated over recent years, but progress has been limited. Our recommendations focus around three key areas:

  • Initial capital raisings and the facilitation and improvement of SME access – increase awareness of capital markets' options available to SMEs
  • Admission to a regulated market – make prospectus information available faster and improve the quality of information provided
  • Improvement of capital raising in the secondary market – reduce the prospectus disclosure requirements for follow on issuances.


'EU reform: detailed proposals for a more competitive Europe'

'Capital markets for growing companies: a review of the European Listings Regime'

© TheCityUK

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