Strasbourg, 26/11/14 (Agence Europe) - In order to reassure private investors, the European Commission has pledged to relax the regulatory framework, in parallel to its investment plan.
A roadmap, which was presented on Wednesday 26 November alongside the Juncker plan (see other article), notably aims to achieve a capital markets union and remove regulatory obstacles in the creation of infrastructure to make life easier for businesses and to facilitate their financing conditions.
The vice-president of the Commission with responsibility for Investment, Jyrki Katainen, stressed that the internal market and better regulation planks were “as important” as the investment plan itself, and that “structural reforms” were needed to this effect. He said that he would head up the work of a team of Commissioners on this roadmap. Some of the actions put forward by the document are expected to feature in the Commission's 2015 working programme.
Particular attention will be paid to the financial sector. Arguing in favour of a capital markets union, the Commission reiterates the need to revitalise the markets for securitised products “but without repeating the mistakes we made before the crisis”. It hopes that the draft regulation on long-term European investment funds will be adopted before the end of 2014, so that this money will be available in mid-2015. The private investment regimes will also be revisited. Lastly, the Commission may call for a harmonisation of SME credit data.
As regards the sectors with a bearing on the creation of infrastructure, the Commission intends to put its shoulder to the wheel to bring down regulatory obstacles. If a proper single digital market is to be established, the European institution recommends that action be taken at legislative level on data protection, copyright, online trade and telecommunications regulation. As regards energy, the roadmap refers to the idea of taking action on retail price regulation and stresses the need to implement the third energy package. To remove obstacles to investment in transport, the reforms which were begun with the fourth railway package, the single European sky and maritime transport must be adopted and applied. Lastly, in the field of services, the document also lays emphasis on the need to speed up reforms on shareholder structures and legal forms. Improving the mutual recognition of the regulated professions and the application of the rules on public procurement are also among the priorities of the roadmap. (MD)