The European Principal Traders Association fully supports the European Commission's push to enhance the scale and effectiveness of EU capital markets and to ensure they deliver for European companies and citizens. In these uncertain times, the EU economy requires a diversity of financing options. A competitive, well-functioning ecosystem for financial intermediation is central to this.
For investment firms to deliver on this ambition, the Commission should prioritise a targeted legislative review of the investment firm prudential regime (IFR/IFD), as recommended by the European Banking Authority and the European Securities and Markets Authority in October 2025.
Acting on those recommendations would produce a simpler, better-calibrated prudential framework – one that enables EU investment firms to better support EU capital market functioning while also enabling them to compete more effectively globally, strengthening European economic resilience and competitiveness in the process.
Read EPTA's response here.