While Brexit makes most headlines, I would like to point out to one of the unsung heroes of our industry, the Capital Market Union (CMU), which is Europe's ambitious project to, well, create a capital market befitting a 500M-citizens-strong continent. Quite ambitious, right? Well, the European Commission announces today the implementation of a legislation aimed at bringing down the barriers for distribution, and encouraging cross-border distribution of Investment Funds across the continent. Game-changing. This is a wonderful example of creation of opportunity. Furthermore, I find it impressive to see how quietly but surely the Europeans are building their future behemoth market. Brexit seems almost a distraction in comparison to this ambitious and generous vision. I like that.
Are there other "unsung heroes" in our industry that deserve to make the headlines?
For reference, here is a line on the Commission's press release ...
New legislative proposals on facilitating cross-border distribution of investment funds
The new measures aim at fixing existing shortcomings and boosting the single market for investment funds
And here is a link to the main page of the CMU on the Commission's website ...
Capital markets union - Consilium
The capital markets union is an EU initiative which aims to deepen and further integrate the capital markets of the 28 EU member states.