This session provides a state-of-the-art overview of the challenges facing Europe’s capital markets in a rapidly changing world. It examines their current structure and integration into the global economy, as well as shifting geo-economic relations.

The SIU builds on several years of financial market integration efforts, of which the Capital Markets Union (CMU) is the most significant precursor. Understanding the CMU initiatives, its political achievements and stalemates, is essential for contextualising the SIU.

European financial market supervision remains highly fragmented. The SIU envisions a significantly expanded role for ESMA, this session examines what that will look like in practice and what it means for national supervisors.

The existence of 27 different corporate law regimes has been identified as a major impediment to Europe’s competitiveness. The 28th Regime is designed to address this. This session assesses the current policy proposal and its prospects.

The SIU places retail investors at the centre of its ambition to unlock trillions in private savings. Building on an overview of key policy proposals and member state best practices, participants engage in a structured reflection on national experiences and identify what is transferable, what is context-dependent, and what is genuinely actionable for EU and national policymakers.

Demographic change and existing pension structures pose major fiscal challenges for European governments. This session reviews EU policy proposals to increase pension contributions and analyses the significant investment potential of pension funds in capital markets. Drawing on first-hand experience the session will offer a comparative perspective on the pension sector.

Venture capital requires large pools of patient capital, a role currently played predominantly by state actors in Europe. This session examines how public entities and regulators can encourage greater institutional investor participation in venture capital markets and support the growth of European technology champions.

Tokenisation is reshaping how financial assets are issued, traded, and settled. This session examines where markets currently stand, the regulatory landscape that is emerging in response, and what these developments mean for the future of financial infrastructure.

This session explains how securitisation works, its potential to support bank lending, and the barriers to its wider use in Europe. It examines proposed reforms to the EU framework and their implications for banks and investors. Experiences with bank balance sheet repair through securitisation in Greece and Italy, alongside proposals for a European securitisation platform, will inform discussion of the opportunities, risks and policy choices.