European Capital Markets Institute

Task Force Final Report "Staying ahead of the curve: Shaping EU financial sector policy under von der Leyen II"

A comprehensive review of the financial services landscape is necessary if the EU is to address structural inefficiencies, ensure market dynamism and support long-term economic growth. Although Europe’s financial system has expanded in size and complexity, and there have been efforts to diversify and integrate financial markets, progress remains uneven, with fragmented banking systems, regulatory inconsistencies and a lack of capital market depth. Enhancing the global competitiveness of EU financial markets means prioritising regulatory reforms that foster innovation, reduce costs and promote cross-border investments – starting with the robust enforcement of existing rules.

‘We all want Europe to progress, and we believe Europe has the capacity to do so.

Financial markets can make a positive difference but they can also cause setbacks.

The question is how we ensure the former and avoid the latter.’

Jesper Berg, Task Force Chair, and Former Director-General of the Danish Financial Supervisory Authority

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Recent Publications

A decade of EU audit reform – successes, setbacks and what should be done next

Published in:

Policy Briefs

14.04.2025

The audit profession plays a vital role in ensuring the integrity of financial reporting, thus safeguarding the interests of investors, lenders and other stakeholders in public-i

Towards a European digital services tax: renewing the momentum for a fair contribution

Published in:

Research Reports

02.04.2025

The rapid growth of the digital economy has disrupted traditional tax frameworks, which rely on physical presence.

One market, one vision: How interstate consolidation can transform Europe’s banking landscape

Published in:

Commentaries

25.03.2025

As the European Union advances financial integration, eliminating regulatory and institutional barriers to interstate banking consolidation must become a priority.

The EU’s sustainability rollback is a retreat disguised as simplification

Published in:

Commentaries

27.02.2025

The European Commission’s ‘Simplification Omnibus’ proposal, unveiled on 26 February, was presented as a necessary step to reduce the regulatory burden on businesses and enhance

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Recent Events

Call for papers: Financial deepening – how can we finance productivity growth and transition in small- and medium sized economies?

ECMI, the National Bank of Slovakia (NBS), CEPS, and SUERF are pleased to welcome the submission of research papers on financial deepening, with implications for small- and medium-sized economies.

Realising the Savings and Investments Union: Inclusion as a vector of integration for EU capital markets

CEPS - Centre for European Policy Studies 1 Place du Congrès / Congresplein 1000 Brussels

EU capital markets continue to demonstrate a degree of atrophy as compared to other major economic blocs.

Towards a unified supervision framework: Ensuring the success of the Savings and Investments Union

CEPS - Centre for European Policy Studies 1 Place du Congrès / Congresplein 1000 Brussels

In a context of geopolitical instability and accelerating climate transition, the EU faces mounting pressure to channel its vast savings towards strategic investment.

Re-designing the withholding taxes system in Europe: Has the new EU FASTER Directive reached its goals?

CEPS - Centre for European Policy Studies 1 Place du Congrès / Congresplein 1000 Brussels

The landscape of dividend withholding tax (WHT) within the EU has long been marked by significant complexities and vulnerabilities, creating challenges for investors and companies alike.

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