FRC CEO comments on publication of the European Commission's Green Paper on Building a Capital Markets Union

News types: Statements

Published: 18 February 2015

PN 12/15

Commenting on the European Commission's Green Paper on Building a Capital Markets Union (PDF), Stephen Haddrill, CEO, Financial Reporting Council said:

“The FRC welcomes today’s publication of the European Commission’s Green Paper on Building a Capital Markets Union, which opens the discussion on how European Capital Markets can be made more competitive.

In order to remain competitive the EU needs consistent, responsible markets that attract investment internationally. The FRC is pleased to see a focus on long-termism that we currently promote through the UK Stewardship Code and we look forward to working with the Commission on their considerations of the role of investors.

The Paper also opens the debate around accounting standards for smaller listed entities, and area of keen interest for the FRC.”

Notes to editors:

The FRC is responsible for promoting high quality corporate governance and reporting to foster investment. We set the UK Corporate Governance and Stewardship Codes as well as UK standards for accounting, auditing and actuarial work.  We represent UK interests in international standard-setting. We also monitor and take action to promote the quality of corporate reporting and auditing.  We operate independent disciplinary arrangements for accountants and actuaries; and oversee the regulatory activities of the accountancy and actuarial professional bodies.

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