ACCA calls for long-term financing solutions for sustainable economic growth | ACCA Global
ACCA - The global body for professional accountants
We support efforts to encourage and push companies to adopt long-term strategies and have access to sources of funding which facilitate them. A communication on crowd funding is a promising regulatory reform to spur significant growth in SMEs’ access to alternative sources of finance. Today’s new rules make it a realistic prospect by ensuring that Member States standardise their treatment and do not create artificial barriers to entry. It is important to ensure that the rules for crowd funding are consistent with the aspiration of an integrated market for card, internet and mobile payments
—John Davies, head of technical, ACCA

The European Commission adopted today a package of measures including a communication on the long-term financing of the economy, a legislative proposal for new rules for occupational pension funds and a communication on crowdfunding, welcomed by ACCA (the Association of Chartered Certified Accountants). 

John Davies, head of technical at ACCA, says: 'In responding to the task of enhancing growth and competitiveness, Europe faces significant long-term investment needs. ACCA supports the goal of creating a business environment which promotes a more long-term focus in planning and investment. This, however, cannot be achieved by disregarding the changing nature of public and private capital.' 

'The package adopted today by the Commission targets many issues important to ACCA, especially strengthening the financial capability of SMEs. Wider access to equity funding for the SME sector should be a fundamental element of any long term strategy. Incentivising citizens to save for their retirement is also, by definition, key to the adoption of a successful long-termist financial culture and it is important that Europe strikes the right balance between giving savers confidence that their saving will be safe and worthwhile and minimising obligations for employers' explains John Davies.

'We support efforts to encourage and push companies to adopt long-term strategies and have access to sources of funding which facilitate them. A communication on crowd funding is a promising regulatory reform to spur significant growth in SMEs’ access to alternative sources of finance. Today’s new rules make it a realistic prospect by ensuring that Member States standardise their treatment and do not create artificial barriers to entry. It is important to ensure that the rules for crowd funding are consistent with the aspiration of an integrated market for card, internet and mobile payments' adds John Davies.

'ACCA supports proactive initiatives to ensure an EU level-playing field in tackling issues of insufficient engagement of shareholders and lack of adequate transparency. It is of great importance to take into account best practice among the member states and create a modern and efficient corporate governance framework that respects diverse business environments' concludes John Davies.