EU Revives Bid to Build Capital-Markets Union

Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.

The European Commission will make a fresh push today in its six-year crusade to create a capital-markets union. The piecemeal approach to bringing down barriers between national financial services will continue with a proposal to create a consolidated tape to integrate data from various trading venues, a new single-access point to gather information on European companies, and changes to facilitate setting up European long-term investment funds, according to documents we’ve seen. Meanwhile, the Commission will largely keep in place the cross-border delegation system for investment fund managers, sparing London some post-Brexit pain. Next year, it intends to publish long-awaited proposals to harmonize corporate-insolvency rules.