Commissioner Jonathan Hill has discussed the Commission’s work to date on the Capital Markets Union (CMU). He highlighted the need to develop stronger capital markets as a way of increasing European financial resilience. He discussed venture capital markets in relation to start-up companies and noted the Commission will be amending existing legislation governing venture capital funds to build up scale, diversity and choice. The Commission has also already made proposals setting out criteria for simple, transparent and standardised securitisations, with reduced bank capital requirements for securitisations that qualify. Commissioner Hill also mentioned the Commission’s desire to encourage cross-border investment by improving the passporting system for investment funds. (Source: Commissioner discusses CMU)