The CMU Action Plan: A Key Priority of EU Policy in the Field of Financial Services

A strong role for private financing through deep and liquid capital markets will be essential for meeting the EU’s economic and social policy objectives. In his address to the IIEA, John Berrigan, Director-General for Financial Stability, Financial Services and Capital Markets Union at the European Commission, outlines the importance of moving ahead on the Capital Markets Union (CMU) and assesses the state of play of the implementation of the CMU Action Plan. Mr Berrigan also discusses associated opportunities and challenges during the remainder of the von der Leyen Commission’s term. About the Speaker: John Berrigan is the Director-General in DG FISMA (Directorate-General for Financial Stability, Financial Services and Capital Markets Union) of the European Commission. DG FISMA is responsible for EU-level policy making and legislative initiatives with respect to the financial sector, including Banking Union, Capital Markets Union, sustainable finance, digital finance, anti-money laundering, and sanctions. In this context, John represents the European Commission on the Economic and Financial Committee and the Financial Services Committee, which each report to EU Finance Ministers. John also represents the Commission on the Financial Stability Board, which reports to G20 Finance Ministers. He attends the European Systemic Risk Board and is a permanent observer on the Single Resolution Board.