31/10/2025
Member States should consider the blueprint to be product agnostic, thereby adopting a more inclusive terminology. While considering the blueprint, Member States should remain open to a wide investment universe, including long-term investment products.
The success of a European blueprint for an SIA/ Product will ultimately depend on achieving the right structural design and aligning incentives in a way that fosters long-term financial security for citizens, while deepening the EU capital market. Although a simple and transparent framework is necessary to encourage participation across borders, structure alone is not sufficient. The decisive factor is the establishment of a favourable and predictable tax treatment. While this does not need to be fully harmonised at EU level, which would risk delaying this important initiative, without meaningful tax incentives the SIA risks remaining a theoretical construct with limited uptake.
By prioritising a balanced design that protects savers, offers competitive returns and ensures neutrality across products and jurisdictions, policymakers can transform the SIA into a cornerstone of retail investment in Europe.