NFU Press Release on the Confirmation hearing of Commissioner-designate Albuquerque
"In a world of uncertainty, we Europeans must strengthen and enlarge our Capital Markets and Banking Union to stay a serious partner in this new world's economy", analysed Carin Hallerström, NFU's General Secretary, after the confirmation hearing of Commissioner-designate for Financial Services and the Savings and Investments Union, Maria Luís Albuquerque on the morning after the re-election of US President Donald Trump.
The Nordic Financial Unions observed during the hearing and the written replies that Ms. Albuquerque has demonstrated her commitment to three areas of focus for Nordic financial employees:
- Strengthening of the Capital Markets Union in order to secure the necessary investment for the green and digital transformation of Europe's economy.
- Enforcement of sustainability reporting obligations in order to accommodate customers' wish to not invest in economic activities that have a negative impact on the planet.
- Review/streamlining of the Corporate Sustainability Reporting Directive in order to prevent further greenwashing.
- The completion of the Banking Union, especially the completion of the deposit insurance scheme.
NFU is particularly pleased that members of the ECON committee took up NFU's ambition for a policy plan to unlock securitisation, also to facilitate harmonisation of rules to overcome cross-border investment hurdles. NFU also welcomes that the Commissioner-designate proposed to tackle market fragmentation through different tax regimes on cross-border investment returns by aligning national tax regimes and procedures in liaison with Member States.
NFU looks forward to working with the Commissioner-designate, who subsequently received the committees' support on her concrete policy and legislative proposals.
