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While acknowledging the disappointing result of the United Kingdom’s referendum in favour of leaving the European Union, EuropeanIssuers’ Board of Directors, at its meeting on 8 July 2016, stressed that the U.K. and the EU should seek swift agreements on the new status of the relations between both parties.
We are happy that our U.K. national association member, the Quoted Companies Alliance (QCA), will remain a part of our organisation as we continue to promote a regulatory environment that favours companies listed on European stock exchanges. Tim Ward, CEO of the Quoted Companies Alliance, has emphasised that the QCA will continue to champion the U.K. small and mid-size quoted companies in Europe through EuropeanIssuers, particularly in these changing times in which we anticipate profound economic changes.
Indeed, the concrete impact of Brexit on all European companies has yet to be seen in terms of legal, tax, trade, finance, equity and long-term market repercussions. For this reason, we advocate steady EU policies in favour of European enterprises’ competitiveness. We expect a business-friendly approach in the transition of the Financial Services portfolio to European Commission Vice-President Valdis Dombrovskis following the resignation of Commissioner Lord Jonathan Hill.
EuropeanIssuers’ Chairman Luc Vansteenkiste commented, “Following the decision of the U.K.’s citizens, we live in a context of heightened political uncertainty. We welcome the reiterated support of our U.K. member, the Quoted Companies Alliance, for EuropeanIssuers’ stance in favour of the Capital Markets Union Action Plan and believe capital markets should better serve the needs of their end users, investors and issuers. We emphasise the need to return as fast as possible to a stable environment so that all European companies can prosper and create wealth for the citizens of the U.K. and Europe as a whole. EuropeanIssuers reaffirms its commitment to the European Union and other European countries and stands by European quoted companies”.
EuropeanIssuers continues its work in the heart of Europe to secure for our members a regulatory environment favourable to companies quoted on European stock exchanges. We continue to believe in the European project as we look to opportunities for the European Union to move forward.
