Brussels, 04/01/2023 (Agence Europe) – *** modified on Monday 9 January ***
During its six-month Presidency of the Council of the EU, Sweden intends to push forward the Capital Markets Union (CMU) (see EUROPE 13071/16). “An open and competitive capital markets union will strengthen the internal market and bolster the green transition”, it said in a document detailing its priorities from January to June 2023.The Presidency will continue the work on regulatory frameworks for funds and financial instrument markets and on a European Single Access Point for financial and non-financial information (ESAP), provided that the European Parliament adopts its negotiating position (see EUROPE 13076/25). The Council of the EU adopted its negotiating position on the ESAP proposal in June 2022 (see EUROPE 12982/18).
Furthermore, the Council has already decided on its negotiating position on the establishment of a single consolidated tape and the revision of the Markets in Financial Instruments Directive (MiFID) (see EUROPE 13089/14). In contrast, the Parliament has not.
According to the Presidency, “it is crucial to ensure continued high consumer and investor protection and help ensure transparency and sustainability in the capital market”.
Sweden will also focus on strengthening financial stability, including insurance resilience, implementing international standards and crisis management.
Read the Swedish Presidency programme: https://aeur.eu/f/4p5 (Original version in French by Anne Damiani)