During his New Year address to the press, AMF Chairman Robert Ophèle issued a wake-up call for greater European integration in the run-up to Brexit and the European elections, in order to ensure a strong and competitive Capital Markets Union.
After a disappointing 2018, the scheduled withdrawal of the United Kingdom and key European elections in the spring of 2019 will mark a turning point for the European Union. Driven by its commitment to a strong, more integrated and more competitive EU of 27 – the main priority of the #Supervision2022 Strategic Plan published in January 2018 – the AMF continues to affirm its convictions regarding the numerous regulatory projects in progress and in the pipeline.
A strong and competitive EU of 27
“At a time when Brexit should be making the need for greater consistency in the 27-member Union’s capital markets even clearer, we must hope, during this New Year period, for a collective awakening in the weeks to come and a strong call for greater integration to coincide with the next European elections”, declared Robert Ophèle, the AMF Chairman.
The prospect of Brexit requires the AMF to remain strongly mobilised in 2019, especially with a view to avoiding the adverse effects of a no-deal exit of the United Kingdom. At a time when the medium-term framework for cooperation between the European Union and the United Kingdom remains to be established and the European third-country equivalence mechanisms are being revised, the EU of 27 is facing challenges that go far beyond its relationship with the United Kingdom alone. The AMF therefore intends to contribute, within its areas of expertise, to the elaboration of the roadmap for the new parliamentary term.
“Brexit should incite us, if need be, to rethink our financial regulations in order to foster the development of capital markets in a strong, self-sufficient and competitive Union”, stressed Robert Ophèle.
Full press release
© AMF - Autorité des Marchés Financiers
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