The EU's Capital Markets Union project seeks to strengthen the flow of private capital to growing businesses, infrastructure investment, energy transition and other projects to underpin sustainable growth. Good progress has been made in implementing the 2015 action plan, with around two-thirds of the 33 actions delivered in 20 months.

The mid-term review identifies significant outstanding measures that will be unveiled in the coming months, including on pan-European personal pensions, covered bonds and securities law. It also reinforces the initial action plan with nine new priority actions, including commitments to enhance the supervisory framework for integrated capital markets, rigorous proportionality review of the regulatory frameworks for listed SMEs and investment firms, and work to harness the potential of FinTech and orient private capital flows towards sustainable investment.

Read more on the Capital Markets Union action plan