On March 10, 2016, European Commissioner Jonathan Hill gave a keynote speech at The Economist’s Future of Banking Summit in Paris. The speech included an update on the European Commission’s implementation of its Capital Markets Union action plan. He also provided valuable insight into the Commission’s priorities for the months ahead as it works to strengthen capital markets in Europe. Hill’s speech illustrates to hedge fund managers the Commissioner’s aspiration for targeted and proportionate legislation in an effort to unify the E.U.’s market for capital, as well as his desire to promote growth of investment funds by improving the AIFMD marketing passport. See “Hedge Fund GCs and CCOs Face an Expanding Role in Changing E.U. Marketing Environment (Part Two of Two)” (Dec. 17, 2015). For more on the CMU, see “ESMA Chair Calls for Increased Transparency and Regulatory Convergence As Interest Rates Rise” (Jan. 28, 2016); and “E.U. Action Plan to Unify Capital Markets May Affect Hedge Fund Managers” (Oct. 8, 2015). For additional commentary from Hill, see “European Commissioner Calls for Economic and Regulatory Coordination” (Oct. 8, 2015).