Capital Markets Union mid-term review: Channel Islands respond to Commission consultation
On 17 March 2017 the Channel Islands submitted the attached response to the Commission’s consultation as part of the mid-term review of the Capital Markets Union (CMU) initiative. The response was submitted by CIBO on behalf of the Guernsey and Jersey Governments and of the Guernsey and Jersey Financial Services Commissions (GFSC and JFSC).
The Channel Islands have engaged actively with the CMU initiative since its inception, contributing to the consultation on the original Commission Green Paper in May 2015, the call for evidence in January 2016, and the consultation on the review of the EU Venture Capital Regulation (EuVECA).
In this latest response, the Channel Islands underline their view the that removing barriers to cross-border investment between the EU and the rest of the world is as important as removing barriers within the EU itself. In the view of the Channel Islands, greater emphasis needs to be given to the former than has been evident to date with the CMU initiative. To gain the full benefits of CMU, the EU should become better integrated with global capital markets and flows.