Global Trustee and Fiduciary Services News and Views Issue 50

Prime, Futures and Securities Services | XXXXXX 8 Investing for the long-term, infrastructure and sustainable investments Fostering retail and institutional investment Leveraging banking capacity to support wider economy Facilitating cross-border investing Path to growth — financing for innovation, start-ups and non-listed companies Making it easier for companies to enter and raise capital on public markets Below and overleaf, we expand on some of the details behind the high-level objectives described above. CAPITAL MARKETS UNION–EU COMMISSION ACTION PLAN —OVERVIEW COM (2015) 468 FINAL PROVIDING MORE FUNDING CHOICES FOR EUROPE’S BUSINESSES AND SMES • Modernise the Prospectus Directive to make it less costly for businesses to raise funds publicly • Review regulatory barriers to small firms listing on equity and debt markets • Support the listing activities of small firms through European advisory structures • Launch a package of measures to support venture capital and equity financing in the EU — including accelerating private investment using EU resources through pan-European fund of funds, regulatory reform and promotion of best practice on tax incentives • Promote innovative forms of business financing such as crowd-funding, private placement and loan-originating funds whilst safeguarding investor protection and financial stability • Explore ways to build on a pan-European approach to better connect SMEs with a range of funding sources