Great work Samarth Shekhar!
Last month, Samarth and I were invited to consult with the European Commission's Directorate General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA) on proposals for the EU's Capital Markets Union (CMU). Despite the complexity of the theme, we had a productive discussion with the DG FISMA delegation. The themes we discussed 1?? Single European Capital Market To compete globally, Europe needs greater market integration. A true single market must be: ?? Attractive (e.g., simple, competitive tax system) ?? Effective (unified rules and regulations, e.g., single AML/KYC framework) ?? Efficient (convenient, low-cost access) ?? Example: One KYC regulation valid across the EU. 2?? Reduced Bureaucracy New regulations (e.g. DORA) should only be introduced when existing ones are decommissioned or significantly simplified (e.g., by >80%). 3?? Pan-European Regulatory Sandbox We explored the possibility of DG FISMA creating a pan-European regulatory sandbox to support early-stage fintech companies. ?? We also discussed potential "Lighthouse Projects" ?? A common European stock exchange ?? A "Tokenized European Company SE light" (valid across Europe, enabling investment from all Europeans and global investors using digital EUR) The DG FISMA delegation was very receptive, asked many questions, and expressed interest in the "Lighthouse Project" concept. They will be consulting with all EU member states to gather further input. ???? Thank you to everyone who supported us in preparing for the consultation. The FinTech Forum is eager to contribute our expertise and develop concrete proposals. Samarth Shekhar FinTech Forum #europe #europeancommission #eu #ec #fisma #cmu #fintech
