{"id":29177,"date":"2025-04-18T03:12:09","date_gmt":"2025-04-18T03:12:09","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/29177\/"},"modified":"2025-04-18T03:12:09","modified_gmt":"2025-04-18T03:12:09","slug":"brussels-takes-aim-at-those-cashing-in-on-broken-european-markets-politico","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/29177\/","title":{"rendered":"Brussels takes aim at those cashing in on broken European markets \u2013 POLITICO"},"content":{"rendered":"

The trouble is, the finance industry makes money from the practice. Governments, heavily lobbied by asset managers, insurers, and others who benefit from the kickbacks, pressured the Commission into removing the ban before the text was even officially proposed back in 2023. A final agreement on the proposal still hasn\u2019t happened.\u00a0<\/p>\n

Another proposal, for an EU ticker tape<\/a> which would publish data on the prices and volume of traded securities in the EU, improving overall price transparency and competition, was hollowed out after \u2014 again \u2014 pressure from governments lobbied by their stock exchanges, whose business model<\/a> of distributing that data for a premium price would be threatened by the tape.<\/p>\n

Under the political deal on that legislation, a weaker version of the ticker tape with less valuable information will still be set up, but stock exchanges are already forming consortia<\/a> to bid to run the tape, meaning competition may be diluted.<\/p>\n

\"\"IMF research often cited by the Commission calculates the damage of single market barriers to the EU as equivalent to a tariff of over 100 percent. | Florian Wiegand\/Getty Images<\/p>\n

Those are just two examples of many, but the pattern is clear \u2014 new EU initiatives which would deepen capital markets are hollowed out or ditched after governments, in thrall to their national finance industry champions, say no.\u00a0<\/p>\n

The rules<\/p>\n

Then there\u2019s the stubborn issue of the rules and who enforces them. Although most agree that having a single rulebook and a single supervisor for EU capital markets actors would make the market more integrated, governments won\u2019t give up their ownership of the rules and their supervision, with high-level summits on the issue ending in stalemate.\u00a0<\/a><\/p>\n

They also engage in \u201cgold-plating\u201d \u2014 when countries roll out EU rules differently at the national level. This is often to protect national investors or domestic economic interests, a fact that creates barriers for foreign entrants, damaging competition, according to a 2024 report<\/a> by the Polish capital markets lobby group CFA Poland.<\/p>\n","protected":false},"excerpt":{"rendered":"The trouble is, the finance industry makes money from the practice. Governments, heavily lobbied by asset managers, insurers,…\n","protected":false},"author":2,"featured_media":29178,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5174],"tags":[17466,17467,28,9654,17468,2437,1442,2814,473,2000,299,5187,1699,474,7558,1824,2348,806,6084,1197,2199,17469,11582,1215,17470,2441,9899,770,17471,2443,2343,363,17472,1199,6861,104,2824,479,11587,49,6507],"class_list":{"0":"post-29177","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eu","8":"tag-asset-management","9":"tag-benchmarks","10":"tag-buildings","11":"tag-capital-markets","12":"tag-capital-markets-union","13":"tag-companies","14":"tag-competition","15":"tag-data","16":"tag-defense","17":"tag-eu","18":"tag-europe","19":"tag-european","20":"tag-european-union","21":"tag-finance","22":"tag-financial-services","23":"tag-germany","24":"tag-history","25":"tag-industry","26":"tag-infrastructure","27":"tag-investment","28":"tag-italy","29":"tag-john-berrigan","30":"tag-lobbying","31":"tag-luxembourg","32":"tag-maria-luis-albuquerque","33":"tag-markets","34":"tag-ngos","35":"tag-poland","36":"tag-private-investment","37":"tag-regulation","38":"tag-research","39":"tag-retail","40":"tag-retail-investment","41":"tag-services","42":"tag-single-market","43":"tag-spain","44":"tag-tanks","45":"tag-tariffs","46":"tag-transparency","47":"tag-united-states","48":"tag-water"},"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/29177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=29177"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/29177\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/29178"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=29177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=29177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=29177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}