European Commission Green Paper on Building a Capital Markets Union

The European Association of Corporate Treasurers (EACT) welcomes the Commission's Green Paper on Building a Capital Markets Union. We think this is an important and much needed initiative from the Commission. Europe is in serious need of action to support its companies with efficient and well-functioning capital markets. The recent programme of financial regulation has concentrated on ensuring financial stability and on preventing a new crisis. Whilst this was necessary, these measures have had some serious negative consequences on the ability of non-financial companies to fund themselves, manage their risks and handle their liquidity. We view the Capital Markets Union as an opportunity for the EU to move beyond a post-crisis regulatory agenda and re-focus financial regulation, putting the needs of the real economy at the centre of their actions. We believe that an important part of the exercise should be to review existing legislation, keeping in mind what businesses need from the financial system and how it can help non-financial companies to grow, invest and create jobs. Some of the recent and planned regulatory initiatives - such as the proposed regulation of money market funds and the threat of an FTT implementation - create an unnecessary burden on businesses, inhibit recovery and fail to contribute in any way to financial stability. We will seek to make constructive input to the debate in order to ensure that future legislation will be well-targeted and balanced, thereby helping to create a competitive and thriving European economy. 

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Vision on financial regulation for the real economy for the next 5 years

Photo from Vision on financial regulation for the real economy for the next 5 years

Corporate treasurers are financial specialists within non-financial companies - but as end-users they are often impacted by EU legislation aimed at the financial sector.

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EACT Newsletter - June 2019

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The latest issue features articles on the European Parliament elections, the trade war between China and the USA, bank account management in transition plus the news that Helmut Schnabel has been re-elected Chair of IGTA.

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EACT Newsletter - April 2019

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The latest issue features articles on cryptocurrencies in the Czech financial market, cybersecurity, impacts of M&A on hedging operations and much more.

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EACT Newsletter - March 2019

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The newsletter features a series of special reports on the EACT Summit 2019.

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EACT Briefing Focus: KYC

Photo from EACT Briefing Focus: KYC

KYC has become a serious concern for EACT members over recent years: it is increasingly complex to fulfil all unstructured and nonharmonized requests. In all recent surveys, KYC is listed as a top priority for corporates and its rising costs are a source of frustration.

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