Date: 18th October 2019

On 9 October the Next CMU High-Level Expert Group (HLEG) - composed of experts from Germany, France, the Netherlands, Italy, Spain, Poland and Sweden who are charged by their ministers with analyzing the EU’s market-based financing capacity five years after the launch of the Capital Markets Union (CMU) - published its final report on the CMU, entitled “Savings and Sustainable Investment Union”.

BETTER FINANCE, as the representative of EU Citizens as Savers, Investors and Financial Services Users, was heard by the HLEG on the 7th of July 2019 and significantly contributed to the debate, shared relevant research and provided evidence-based policy recommendations. We are therefore pleased to see that the final HLEG report took BETTER FINANCE input into account and has adopted and endorsed some of the BETTER FINANCE policy recommendations with view on the future development of a CMU, especially since just 3 out of the 182 contributions (1.6%) came from consumer representatives.