Conclusion

Abstract

Abstract The European Union is pursuing the goal of a Capital Markets Union (CMU). This chapter looks at the policies and strategies of the CMU pro-ject and suggests that a codification of European capital markets law would represent a major step towards a CMU. To this end, it refers to the key findings of the other chapters of the book on the idea of codification and the legislative competence of the EU to implement a European Capi-tal Markets Code (ECMC). Furthermore, it presents the key findings on the content of the ECMC, the regulatory goals, and the legislative style that the codification act should adopt in order to reduce complexity and enhance accessibility of the law. The codification of European capital markets law is also an opportunity to consider more courageous reforms than the various reforms under the CMU Action Plan 2015 and 2020.