In its paper, the Commission said a growing occupational and private pension market could assist in a move toward market-based financing, following a marked slowdown in lending by banks in the wake of the financial crisis.Growing the secuiritisation market and offering investors better access to the credit information of SMEs were two additional reforms viewed as important building blocks of the CMU, first highlighted last year.On barriers from prudential regulation, the Commission added: “Further work is needed to identify lower-risk infrastructure debt and/or equity investments, with a view to a possible review of prudential rules and the creation of infrastructure sub-classes.”Addressing IORPs, the paper noted that new rules were being discussed that would help remove existing national barriers preventing pension funds from investing in long-term assets, a likely reference to wording in the revised IORP Directive that overruled national investment restrictions that hindered growth.This is despite the Commission previously being warned that revisions to the Directive were “at odds” with the creation of the CMU. In line with Hill’s earlier comments that the absence of a Europe-wide personal pensions market was an obstacle to the creation of the CMU, the paper also asked if stakeholders would back the launch of a single, standardised cross-border product.The European Insurance and Occupational Pensions Authority has been working on details of a potential 29th Regime for personal pensions for a number of years. The Commission further signaled its intent to tackle tax rules that would discriminate against cross-border investments in property, saying it would take action “as necessary” where problematic arrangements were identified.Early reaction from stakeholders was positive, with the UK’s National Association of Pension Funds saying it was important to create an environment “conductive” to long-term investment.Joanne Segars, the organisation’s chief executive, added: “But it is important to remember that any reforms to the functioning of European capital markets should be seen through the lens of the providers of capital, in particular pension funds.”The European Fund and Asset Management Association’s (EFAMA) director general Peter De Proft said EU policymakers were right to encourage capital market cohesion as it would “diversify the sources of funding of the economy”.The Commission’s consultation on the CMU will conclude by mid-May.For more on the role of sustainable investment within the CMU, see IPE’s past coverage of the topic,WebsitesWe are not responsible for the content of external sitesLink to Commission Green Paper on the Capital Markets Union The European Commission has flagged up national tax regimes and the absence of a cross-border pensions market as two barriers to the creation of the Capital Markets Union (CMU).Publishing its green paper on the CMU, commissioner for financial stability Jonathan Hill said the ensuing three-month consultation would look at ways of building a single market for capital “from the bottom up” and was a “classic” single market project.The European executive also highlighted that existing prudential regulation could act as a barrier to attracting long-term financing, especially from institutions regulated by Solvency II – such as pension providers in the Nordic region.“Capital Markets Union is about unlocking liquidity that is abundant, but currently frozen, and putting it to work in support of Europe’s businesses, and particularly SMEs,” he added.
Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. There are no comments posted yet. Be the first one! Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments Sumner Newscow report â€” One of the commemorative “Where”s Henry?” rifle which will be auctioned off at the Kansas Wheat Festival will be on display at Wheatland Services, while rifle number two will be at Carroll Glass/Pig Shack BBQ. Â The dates for the display are June 6 through June 10.The Wellington Food Bank Fund Raising Group will be holding an auction and raffle of two Henry Repeating Arms Company Big-Boy rifles in 30-30 Winchester caliber. The raffle will take place Saturday, July 9 during the Kansas Wheat Festival prior to the Saturday night street dance, on the stage in front of the Memorial Auditorium. Â Both of these rifles are custom factory engraved with the inscription “Kansas Wheat Festival, July, 2016, Wellington, Sumner County, Kansas, One of Two and Two of Two”. Â The rifles also have specially assigned serial numbers KWF001 and KWF002. Â In addition Henry Repeating Arms has donated two wall display cases to go with the rifles.Early bird raffle tickets are still on sale at select sponsors, Vince Erwin Glass, Carroll Glass and Pig Shack BBQ, Smoker’s Choice, Bank of Commerce, Impact Bank, Gold Corner, Trigger Guard Shooting Range, Rohrer Custom and Fabrication and Kim Woodrow. Â Ticket prices are $5.00 each, or a book of 5 for $20.00. Â A maximum of 1200 tickets will be sold for this event. Â Early indications are that the demand for these tickets is running high, so if anyone is interested in a chance to win one of these fine rifles I suggest you don’t wait too long.In other news, all 1,000 tickets for sale prior to the Kansas Wheat Festival are still out to the sponsor/vendors, but demand is still running high. Â Estimated ticket sales so far is 700. Â As of today, all of the sponsor/vendors still had tickets for sale, but some of them are running low.Follow us on Twitter.