News Release
ICI Urges the European Commission to Establish a European Savings and Investment Account as a Cornerstone to the SIU
Brussels, Belgium, 7 March 2025—Today, Investment Company Institute (ICI) Chief Global Affairs Officer Tracey Wingate released the following statement regarding ICI’s response to the European Commission’s call for evidence on the Savings and Investments Union (SIU).
“ICI strongly supports the European Commission’s efforts to foster deeper, more integrated capital markets for the benefit of European citizens. We recommend that the EC and EU Member States champion the creation of a European Savings and Investment Account (ESIA)—a new account structure modeled after successful and effective investment frameworks that promote long-term wealth creation in jurisdictions around the world. By expanding access to investment opportunities that enhance the financial well-being of European citizens, the ESIA would serve as a cornerstone of a thriving SIU. We have outlined in a road map the key elements essential to ensuring the ESIA’s success and broad adoption across the EU. We believe this initiative is integral to realizing the Commission’s vision for a successful SIU and to creating deeper and more robust capital markets.”
Background:
ICI’s submission combines the most effective elements of global best practices and leverages the well-established UCITS framework to recommend the ESIA which has the potential to become a highly successful investor program that drives retail participation, promotes long-term investing, and strengthens the capital markets.
ICI remains committed to collaborating with the European Commission and Member States to help eliminate regulatory barriers to ensure the usability of the ESIA and its ability to scale.
The detailed roadmap for how the ESIA could be implemented includes digital accessibility, workplace integration, and tax incentives. Read the full submission here.