IFRS Foundation responds to EC's Green Paper and advocates for IFRS in a Capital Market Union

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12 May, 2015

The IFRS Foundation has submitted its response to the European Commission's (EC's) public consultation, 'Building a Capital Markets Union'. The project aims to boost growth in the EU with the creation of a single market for capital and break down the barriers that are blocking cross-border investments in the EU and preventing businesses from getting access to finance.

In its response, the IFRS Foundation noted that "the use of a single set of financial reporting requirements is important to the successful achievement of a Capital Markets Union (CMU). The introduction of IFRS in the EU has been beneficial for those companies whose securities are admitted to trading on a regulated market and the Foundation believes that those benefits will hold true for companies, regardless of size, listed on alternative trading venues such as [Multilateral Trading Facilities]."

The IFRS Foundation also emphasised its willingness to work with the EC in considering the financial reporting implications of the CMU.

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