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20 March 2017

Accountancy Europe response to the Commission consultation on the mid-term review of the CMU

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Accountancy Europe has published its response to the EC on the public consultation on the mid-term review of the CMU. Accountancy Europe supports the CMU project and its objectives, and is looking forward to further steps to foster capital market integration in the EU.

Accountancy Europe notably recommends to:

• conduct an assessment of credit referral and mediation schemes across the EU, and consider a pan-European scheme

• work together with the IASB and within the existing IFRS framework on a proportionate IFRS regime tailored for companies listed on Multilateral Trading Facilities (MTFs) and SME Growth Markets. EU-specific solutions should be avoided

• conduct a comparative study on the practical experiences with filing requirements currently faced by small listed companies on MTFs across the Single Market as a basis for a potential alleviated regime

• review existing incentive regimes for equity research on listed SMEs, and to establish user-friendly platforms for analysts to share their reports on

• take stock of existing market-led green bond initiatives, identify best practices and promote convergence on standardisation at the EU level early on. The role of external assurance should be considered where relevant

• bolster the role and responsibilities of the ESAs over time as capital market integration advances, and ensure that the ESAs have the proper resources and competences to fulfil this growing role effectively

Full response

© Accountancy Europe

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