European Union flags waiving at Berlaymont

EU Capital Markets Union and Investor Protection

Relaunched in 2025 as the Savings and Investments Union, the deepening and integration of capital markets remains a core policy objective to strengthen EU competitiveness. Advancing this regulatory agenda is therefore the central focus of EU research and advocacy work at CFA Institute.

Research

Private Market Investment in the EU: Prudent Access for Retail Investors

By Alex Lehmann

This report examines the European Union’s expanding private markets and revised European long-term investment fund framework, assessing investor opportunities, risks, protections, and policy changes needed to support responsible, sustainable growth in Europe.

Market Integrity Insights

EU Financial Sector Rules: from Simplification to Agility

By Alex Lehmann

A new report calls for simpler, more agile EU financial sector regulation to strengthen capital markets, reduce fragmentation, support innovation, and improve investor protection. The report underlines how the rulemaking process now holds back market deepening and proposes some wide-ranging reforms, writes Alex Lehmann .

Market Integrity Insights

European Union Revisits Securitization Rules to Bolster Capital Markets

By Alex Lehmann

EU reforms aim to revive securitization markets—explore how regulatory changes could unlock capital and reshape Europe’s financial system.

Consultation Response

Response to EU Consultation on Venture and Growth Capital Funds Reform

By Olivier Fines, CFA, and Alex Lehmann

CFA Institute, with input from European CFA societies, assesses the potential for mobilizing institutional investors in innovation finance. High risk early-stage venture capital and late-stage VC should be more clearly distinguished. Investment funds outside the EU could play a larger role.

Market Integrity Insights

European Equity Markets: A Crisis in Listings and a New Scheme for Private Capital Exchanges

By Alex Lehmann

As European listings and IPOs decline, the blog explores an EU private capital exchange modeled on the UK’s PISCES, weighing improved funding and exit options against transparency and investor protection risks.