The bloc has introduced several "top down" reforms in a bid to boost its capital market, but progress has been modest and it continues to lag Wall Street in terms of breadth and depth, and company listings.
Rowland said the push towards a deeper capital market would also focus on "bottom up" measures, such as steps taken at the national level, or initiatives by market participants.
Speeding up EU capital market reforms has become more pressing since Brexit as Britain also eases capital market rules to become more globally competitive.
They need to mobilise private capital," he said, adding that some bottom-up measures were already emerging, such as Italy's capital markets law, and a green industry law in France.
Regulators in Britain and globally, however, have some concerns about whether assets in private markets have valuations that properly reflect the impact of higher interest rates and inflation.
Derville Rowland, Rowland, Huw Jones, Sharon Singleton, Bernadette Baum, Emelia
Central Bank of Ireland, European Commission, EU's, Markets Union, CMU, Publicly, EU, Regulators, Thomson