For many, the financial world feels distant and complex. As Commissioner, I want to help bridge the gap between citizens and the financial institutions that serve them. At an individual level, boosting financial literacy can help give people the knowledge they need to make sound financial decisions. That needs to be complemented by our other policies, including consumer protection. More broadly, financial regulation should keep people in mind. Developing the Capital Markets Union would allow investments and savings to flow across the EU. Our upcoming retail investment strategy will help retail investors participate in capital markets. We need to keep up with technology, putting the right regulation in place to ensure people can benefit from the latest innovations safely – including encouraging the development of innovation in retail payments. Financial markets should be a force for positive social change, particularly with regard to the environment.

Mairead McGuinness, European Commissioner for financial services, financial stability and Capital Markets Union.