The Dutch Authority for the Financial Markets published a keynote speech by its chair Laura van Geest, delivered in Brussels on 15 December, on how to build a European capital market that works for people and the economy. Van Geest argued that the policy debate is too often framed as a choice between consumer protection and market functioning, and that this is a false trade-off. She positioned the relationship as complementary, with both elements needed to build trust, achieve scale and enable innovation.