OpenLobby.EU
Explore

Paris Europlace

Paris Europlace is a major association that promotes the Paris financial centre and European market integration.

Lobbying Activity

Meeting with Maria Luís Albuquerque (Commissioner) and

27 Jan 2026 · Opening speech at the meeting of the Board of Paris Europlace

Response to European Innovation Act

29 Sept 2025

Paris Europlace fully supports the thought process on the harmonisation of business law within the European Union. The expected benefits of such defragmentation of business laws and corresponding markets would be: strengthening European sovereignty and competitiveness; reducing compliance costs for businesses; achieving economies of scale and facilitating cross-border growth; facilitating access to pan-European capital markets; the establishment of a true Single Market for businesses. Our contribution focuses on the three main flaws in the proposal, because it is difficult to take a position until the details of the 28th regime are better known. Incidentally, we are surprised by the use of the term "28th regime" in this consultation, as it is currently inaccurate Apart from the fact that this name will immediately become obsolete if the number of Member States changes, it suggests that a regime would be created "alongside" that of the 27, without Member States, citizens or territory: this may result in a "disembodied" nature. The 28th regime should therefore be understood to mean the adoption of a set of optional, unified and directly applicable European rules capable of establishing a common regime for all Member States, next to the current national business laws. The openness to all companies is a strategical choice The fact that the 28th regime should be open to all companies registered in the EU without any restrictions on size, sector, type of activity or nationality of the founders, depends on strategical considerations. Limiting its scope to so-called "innovative" companies could be seen as a major mistake and may create legal uncertainties that could ruin the attractiveness of the new system: this would introduce threshold effects and send a message of exclusion to companies that are not to be considered "innovative". Our general view is that this regime must concern not only start-ups, VSEs and SMEs, but also mid-sized companies or large groups. Otherwise, it may create many undesired problems, as innovative companies grow about predefined thresholds, diversify their business in the value chain, or are acquired by a larger non-innovative group. The many situations where an innovative company would lose their status would be a deterrent for adoption of the framework, given how burdensome and sub-optimal it would be for such a company to go back to national regime, a step which seems extremely odd in the bigger vision of creating European based innovation champions. A simplified European company may rely on several options, with some uncertainties to fix While the so-called 28th regime could ultimately aim at proposing a set of rules superseding national rules in all areas that affect the life of a company (employment law, taxation, insolvency, etc.), it seems appropriate to start with the creation of a suitable status for the creation of companies in all EU countries. The cumbersome nature of the current European company (SE) regime, the impossibility of setting it up ab initio and its access cost of EUR120k have made it inaccessible to the majority of young innovative businesses. It is essential that the administrative and regulatory burden associated with this 28th regime be as limited as possible, particularly in terms of minimum capital requirements. France's experience with SAS companies suggests that simplicity is a prerequisite for the success of such a status. Granted, many options are available to open a chapter of European provisions specific to it and, only subsidiarily, to the national law of the State of registration. Economically, it would greatly contribute to the integration of the common market, promote cross-border trade and could be chosen in all Member States. The attractiveness of a new regime depends on the statutory freedom of choice that it would have. The provisions have to limit the mandatory rules and simply establish a general management with a wide legal power of representation.
Read full response

Paris Europlace urges bolder insurance investment and securitisation rules

4 Sept 2025
Topic — A review of technical rules supplementing the EU’s Solvency II insurance framework.
Message — They want simplified rules for long-term equity and lower capital shocks for securitisation. They argue current rules are too complex and discourage necessary long-term investments.12
Why — These changes would lower compliance burdens and capital requirements for insurance companies.3
Impact — Prudential regulators may lose a conservative safety margin designed to ensure financial stability.4
Read full response

Meeting with Jessica Larsson (Acting Head of Representation Communication)

3 Sept 2025 · Visite de courtoisie

Paris Europlace Urges Lower Haircuts to Revive Securitisation Market

11 Jul 2025
Topic — A review of liquidity requirements for bank securitisation exposures in Europe.
Message — The association requests aligning securitisation haircuts with covered bonds and including resilient non-STS deals. They propose promoting senior tranches to higher liquidity levels to remove market stigma.12
Why — Lowering haircuts would reduce the funding costs for banks holding these assets.34
Impact — Prudential supervisors face higher risks to bank liquidity during extreme financial stress.5
Read full response

Paris Europlace backs flexible label for European investment accounts

8 Jul 2025
Topic — A proposal to create a European blueprint for national investment products.
Message — They want a non-legislative framework that uses the Finance Europe label to avoid costs. The group supports simple tax incentives and long-term investment in European assets.12
Why — Financial firms gain easier product marketing through self-labelling and reduced administrative burdens.3
Impact — Cross-border workers may suffer because the group views full portability as too complex.4
Read full response

Paris Europlace Urges Clearer Regulatory Guidance for Financial AI

3 Jun 2025
Topic — A European Commission strategy to accelerate the adoption of industrial artificial intelligence.
Message — Paris Europlace requests clearer rules for businesses to adapt their practices and simplified compliance requirements. They also call for sector-specific AI models and high-quality datasets.123
Why — This would reduce high adaptation costs and clarify legal obligations for financial institutions.4
Impact — Developers of open-source models may face stricter governance due to traceability concerns.5
Read full response

Meeting with Maria Luís Albuquerque (Commissioner) and

21 May 2025 · Exchange on financial services topics

Meeting with Martin Merlin (Director Financial Stability, Financial Services and Capital Markets Union)

5 May 2025 · Revival of securitization and Saving and Investment Union

Paris Europlace urges lighter rules to revive EU securitisation market

25 Mar 2025
Topic — A holistic review of EU rules for pooling and selling financial assets.
Message — Paris Europlace seeks lower capital costs and reduced liquidity barriers for banks. They propose upgrading high-quality securitised products to improve market investment.123
Why — Lower regulatory costs would increase bank capital velocity and market issuance volumes.45
Impact — Financial regulators risk lower market stability by allowing thinner bank liquidity buffers.6
Read full response

Response to Savings and Investments Union

7 Mar 2025

1. Finance: a strategic sector Paris Europlace urges the Commission to implement a SIU to strengthen the EU financing capacity, recognizing the essential role of the financial sector in addressing the EU considerable financing needs. Finance must be identified as strategic and authorities must promote its competitiveness as a top priority. They must include competitiveness and growth as a second mandate of European authorities. The development of new digital markets with the appropriate regulatory framework is also essential to ensure European sovereignty over new emerging markets to broaden the sources of financing and to create jobs. 2. Simplifying financial regulation The European financial sector suffers from high compliance costs, meaning higher costs for end-users, which calls for a rapid removal of disproportionate requirements or complexities. It is essential to realign financial related ESG regulation (SFDR, CRR/CRD, Solvency II, EU GBS, Pillar 3, ECB guidelines etc.) in sync with the Omnibus proposals. Prudential, market and consumer protection regulations should also be urgently and drastically simplified in line with the stated goal of reducing reporting burden by 25%. The planned report on EU bank competitiveness should be accelerated and expanded to all financial players. 3. Reduce fragmentation and reform capital markets supervisory governance The key obstacle for firms to operate as in one EU must be addressed: divergent transpositions of directives or interpretations of EU rules across Member States or gold plating by national competent authorities (NCAs). It is imperative that all obstacles to cross-border activities be removed. A single market supervision in the EU should be the medium-term goal. In the meanwhile, a direct ESMA supervision should be considered for market infrastructures with pan-European operations, which currently encounter varying approaches from different NCAs. Last, impact assessments of any new regulation must be based on a close dialogue with the financial industry, with peer reviews also contributing to ensure a proper implementation of this regulation. 4. Fostering EU savings and channeling them to EU investments Channeling the abundant EU savings to EU investments is key. Given the multiplicity of national tax regimes and pension frameworks, a voluntary EU label on existing national savings products (notably pension savings) associated with attractive tax incentives should be developed. It will require consistent financial information to citizens, notably through pension dashboard, as well as financial education so that individuals can be better informed about possible pension gap and adequate means to address it. It also requires a drastic simplification of the customer journey to encourage investments, currently disincentivized by burdensome rules. The RIS needs to be refocused on these objectives. In addition, tax barriers, such as the application of withholding taxes or their lack of harmonization, generate complexity and legal uncertainty and hinder investment. In order to finance its wider objectives, genuine freedom of movement for capital is key: withholding taxes in the EU must thus be abolished. 5. Facilitate access to finance by businesses and households Access to equity needs to be facilitated by developing private equity and late-stage capital, as well as foster public equity markets. On the debt side, even if private credit markets have developed, a significant portion of additional investment needs will be financed by banks. Given the regulatory pressure, capital constraints will prevent banks to absorb this increase in balance-sheet. This is why the reform of securitization is essential to allow banks to share the risks that they are originating (under a strictly supervised risk management framework) with attractive investments in terms of risk/return with other market participants such as pension funds, insurance companies, which are natural long-term debt holder
Read full response

Paris Europlace calls for a strategic and competitive financial sector

30 Jan 2025
Topic — The European Commission is seeking input on the Single Market Strategy for 2025.
Message — Label the financial sector as strategic to support European jobs and growth. Ensure EU regulators prioritize economic competitiveness and remove internal market barriers. Allow large financial groups to be managed by a single lead national authority.123
Why — Firms would reduce compliance costs and scale up across borders more easily.45
Impact — Retail investors may face higher losses as rules shift toward encouraging risk-taking.6
Read full response

Meeting with Antoine Bégasse (Cabinet of Commissioner Mairead Mcguinness)

22 Nov 2024 · Basel

Meeting with Florian Denis (Cabinet of Commissioner Mairead Mcguinness)

23 Jul 2024 · Securitisation

Paris Europlace slams complex EU tax relief proposal

18 Sept 2023
Topic — The initiative introduces a standardized EU-wide system for withholding tax relief.
Message — The organization requests focusing on digital residence certificates and reducing financial intermediaries' liabilities. The proposal should also include non-intermediated flows and common investment funds.123
Why — Avoiding new procedures would save financial institutions from huge IT investments.45
Impact — European companies lose appeal if complex procedures deter international investors.6
Read full response

Paris Europlace warns investment strategy risks advice gap

28 Aug 2023
Topic — European Commission consultation on enhancing retail investor participation in capital markets.
Message — The group opposes bans on commissions to protect access to affordable financial advice. They suggest simplifying disclosures and focusing value-for-money tests on service quality rather than just costs.123
Why — This preserves the existing commission-based business model and reduces administrative burdens for financial distributors.45
Impact — Small companies lose funding access while retail investors face limited choices and an advice gap.67
Read full response

Meeting with Gilles Boyer (Member of the European Parliament, Shadow rapporteur)

1 Jun 2023 · CRR3

Meeting with Katherine Power (Cabinet of Commissioner Mairead Mcguinness) and AMUNDI AM

22 May 2023 · ESG Ratings

Meeting with Stéphanie Yon-Courtin (Member of the European Parliament)

28 Apr 2023 · Finance numérique, Union des marchés des capitaux

Meeting with John Berrigan (Director-General Financial Stability, Financial Services and Capital Markets Union) and ALPHALEX-CONSULT GEIE

15 Jul 2021 · Sustainable finance and CMU

Meeting with Mairead McGuinness (Commissioner)

29 Jun 2021 · Q& A at International Financial forum

Meeting with John Berrigan (Director-General Financial Stability, Financial Services and Capital Markets Union) and ALPHALEX-CONSULT GEIE

7 Dec 2020 · Taxonomy and Solvency II

Meeting with Olivier Guersent (Director-General Financial Stability, Financial Services and Capital Markets Union)

1 Jul 2019 · Green finance and fintech.

Meeting with Olivier Guersent (Director-General Financial Stability, Financial Services and Capital Markets Union)

18 Mar 2019 · CMU, Europe/US, Brexit

Response to Legislative proposal for an EU framework on crowd and peer to peer finance

7 May 2018

Paris EUROPLACE - which gathers all the major players of the Paris Financial Centre, French and international corporates, investors, banks and financial intermediaries - would like to thank the European Commission for the opportunity to provide its feedback on its Regulation proposal on European Crowdfunding Service Providers (ECSP) for Business. The present contribution is shared by the Association Française de l’Investissement Participatif (AFIP) and supported by Financement Participatif France (FPF). France has been a pioneer in Europe in developing a regulatory framework dedicated to crowdfunding platforms - with the introduction of two different professional statutes as soon as October 2014 - and has now gained an experience which may prove valuable to the development of an EU-wide regime. Currently, French platforms rank first in continental Europe in terms of assets raised (EUR 444 million in 2016). *** Paris EUROPLACE supports the introduction of a European regulatory framework for crowdfunding service providers. However, we believe that the proposed regulation, which introduces an optional 29th regime, will not foster the development of crowdfunding activities, especially if it does not cover crowdfunding projects with a consideration of more than EUR 1 million over a period of 12 months and does not provide the appropriate level of investor protection. *** Paris EUROPLACE supports the introduction of a European regulatory framework for crowdfunding service providers. However, we believe that the introduction of an optional 29th regime will not foster the development of crowdfunding activities. => Paris EUROPLACE recommends the introduction of a comprehensive EU approach to harmonise national regimes through a stand-alone specific legislation for crowdfunding service providers. Further, the cap of EUR 1 million set by the proposed regulation is too restrictive. => Paris EUROPLACE calls for an increase of the cap to EUR 8 million, which would be consistent with the requirements of the Prospectus Directive. Last, we believe that the level of investor protection provided by the proposed regime is not appropriate. => Paris EUROPLACE proposes to review the relevant provisions of the proposed regulation in order to ensure the appropriate level of investor protection. *** Please find attached our detailed contribution.
Read full response

Response to Review of the European Supervisory Authorities

23 Jan 2018

Paris EUROPLACE - which gathers all the major players of the Paris Financial Centre, French and international corporates, investors, banks and financial intermediaries, as well as public authorities - would like to thank the European Commission (EC) for the opportunity to provide their view on its proposal for a regulation on the European Supervisory Authorities (ESAs). As a preliminary remark, we would like to recall that we were in favour of the introduction of the ESAs and welcome the work the ESAs have completed since their establishment. Indeed, the ESAs were a key response to the financial crisis and are a crucial element in restoring trust and stability in the financial markets. Their role is fundamental, both in terms of regulation and supervision, to ensure that the financial markets across the EU are well regulated, strong and stable - and even more so in the current context of uncertainty created by the Brexit. We therefore support the Commission’s objective to enhance the competences and efficiency of the ESAs with regards regulatory and supervisory convergence as well as relations with third countries. In particular, we fully support the Commission’s proposal to introduce direct powers for ESMA so that it can supervise activities and entities with a significant degree of cross border business and is more involved in the authorisation and supervision of entities from non-EU countries which are active in the Union. We also are in favour of the coordination of supervisory actions of NCAs on an ongoing basis to promote supervisory convergence. In this regard, we welcome the convergence effort by undertaken the NCAs in the context of the “Supervisory Coordination Network”, with a view to promote consistent decisions in respect to authorizations to relocate entities, activities, or functions to the EU27. We welcome the publication of the proposed regulation, which encompasses proposals for all three ESAs; however, we believe that a more specific approach, tailored to each authority, would probably be more appropriate going forward, as the authorities will evolve in their own specific way and have their own specificities.
Read full response

Response to Legislative proposal for an EU framework on crowd and peer to peer finance

27 Nov 2017

Paris EUROPLACE - which represents all the major players of the Paris Financial Centre, French and international corporates, investors, banks and financial intermediaries - would like to thank the European Commission for the opportunity to provide their feedback on crowd and peer to peer finance. The present contribution is shared by the Association Française de l’Investissement Participatif (AFIP) and Financement Participatif France (FPF). Paris EUROPLACE calls for the introduction of an EU regulatory framework for crowd and P2P activities. Indeed, we share the Commission’s more specific goal to enable crowd and P2P activities to grow and enable platforms to scale cross border and provide them with a proportionate and effective framework. Paris EUROPLACE believes that, in order to be efficient, such a framework should aim at the following main objectives: financial stability and security, investor protection, a competitive of Europe, proportionality. Paris EUROPLACE believes that the EU regulatory framework should: • be directly applicable, without any possible adjustment by the Member States, • be applicable to all crowdfunding platforms, • be proportionate, • require that transparency on late loan repayments and defaults are based on a standard calculation to ensure that default figures are reliable, • provide for harmonised and standardised reporting obligations, • provide for unified KYC obligations which would be passportable across the EU, • encourage as a good practice for activities of crowdlending that any loss incurred on a loan should be tax-deductible against any interest received on other loans of the same nature. Paris EUROPLACE supports option 3B i.e. the introduction of a comprehensive EU approach to harmonise national regimes through a stand-alone legislation.
Read full response

Meeting with Jonathan Hill (Commissioner)

11 Mar 2016 · Union de marché des capitaux