Securing access to business funding to develop the economy.

Securing business funding is essential to the development of the economy, investment and job creation. Ease of access to financial markets and taxation that is favourable to business funding are the two pillars of a competitive economy.

AFEP is convinced that business funding is key to building a dynamic economy. Large companies are the driving force behind growth in Europe and we need to protect their competitiveness, by defining a regulatory framework to help them develop.

Although the low-rate environment has given large companies exceptional funding conditions, this situation is not likely to last. Financial market access conditions are now more restrictive due to legislation that, directly and indirectly, generates extra costs. AFEP is therefore calling for simplification of the obligation to inform and the funding conditions, revision of some international accounting standards and taxation that favours investment in shares and enables redistribution of savings. It is also essential to ensure the pivotal role of banks in funding the economy, by seeking to balance their prudential obligations better and protect their competitiveness in an uncertain international context.

Finally, in a sector in which most of the legislation originates from Europe, where the stated ambition is to create a capital markets union, European institutions must no longer systematically prioritise investor protection.

Lé Quang Tran VanDirector of Financial Affairs

Lé Quang began his career in an audit firm before joining the Commission des Opérations de Bourse (COB), now the Autorité des Marchés Financiers (AMF), where he held various posts (Department of investigations, Department of issuers, Department of regulation and international affairs), taking part in the transposition of European Directives and the preparation of legislation and doctrine on financial matters. Lé Quang has also worked as a regulatory Project Manager in the risks division of the BPCE Group and as a consultant to listed companies. He is a graduate of ESSEC Business School.

Lé Quang Tran Van
lq.tranvan@nullafep.com01 43 59 85 41