This IA accompanies three proposals designed to support the establishment of the savings and investment union, as well as the EU's efforts to deepen capital market integration, strengthen supervision and foster innovation. Overall, the IA is meaningful, but could have been shorter, in line with the Better Regulation Guidelines. The IA identifies three problems and two drivers. While the consequences are well-defined across the different stakeholder groups, the scale and scope of the problem remain difficult to assess due to the limited quantification provided. The principles of subsidiarity and proportionality are respected. The IA defines one general objective, which it breaks down into three specific objectives, but does not provide operational objectives. The European Commission has presented two policy packages: one for reducing barriers to cross-border operations and innovation and another for addressing supervisory divergence. Each package includes two policy options. These options are based on previous research and stakeholder consultation; however, the choice of options is quite limited, even though the IA specifies which options were discarded at an early stage and why. The IA only assesses the economic impact of the proposed legislation, omitting impacts on citizens. It would have been relevant to include a wider range of impacts such as territorial or digital effects. Additionally, the costs and benefits are mainly discussed qualitatively. The IA includes an SME test and a competitiveness check. The Commission consulted a broad range of stakeholders and included their views in the IA. In addition, the IA uses robust data sources, provides a clear monitoring plan and is transparent about its limitations. The IA openly knowledges that it did not address all the Regulatory Scrutiny Board's comments, due to time and data constraints. Finally, the legislative proposals are aligned with the IA. Source : © European Union, 2026 - EP Read more