On 25 November 2021, the European Commission adopted a package of measures to ensure that investors have better access to company and trading data. The proposals deliver on several key commitments in the 2020 capital markets union (CMU) action plan. They will help connect EU companies with investors, improve their access to funding, broaden investment opportunities for retail investors and better integrate capital markets.
The package includes four legislative proposals, as well as a communication explaining how the different measures fit together. The four proposals are detailed below.
The Commission will follow up in 2022 with more CMU actions, including a proposal on listing, an open finance framework, an initiative on corporate insolvency and a financial competence framework.
European Single Access Point (ESAP)
This will offer a single point of access to public information about EU companies and EU investment products.
Review of the European Long-Term Investment Funds (ELTIFs) Regulation
This review will increase the attractiveness of ELTIFs and make it easier for retail investors to invest in them
Review of the Alternative Investment Fund Managers Directive (AIFMD)
This review harmonises the rules around loan-originating funds (debt funds), in order to facilitate lending to real economy.
Review of the Markets in Financial Instruments Regulation (MiFIR)
These adjustments to the trading rules will ensure more transparency for all parties trading on capital markets