Net sales of long-term UCITS turn negative for the first time since March 2020
Net sales of long-term UCITS turn negative for the first time since March 2020
EFAMA wholeheartedly supports a retail investment strategy that gives EU citizens the necessary tools and the confidence to put their savings to work by investing in capital markets.
EFAMA supports the findings of the European Commission’s report on the operation of the European Supervisory Agencies (ESAs)
EFAMA, AFME, BVI and Cboe Europe Agree Cross-Industry Consensus on EU Equity Consolidated Tape
Monday 30 May, 2022 - AFME, BVI, Cboe Europe and EFAMA have today jointly published a position paper which provides a set of key principles needed to ensure the successful creation of an EU Equity Consolidated Tape (CT).
A Cross-Industry Consensus on the EU Equity Consolidated Tape Proposal - Statement of Principles
EFAMA, AFME, BVI and Cboe agreed on a set of 11 Principles.
The provision of an appropriately constructed EU Equities Consolidated Tape (“CT”) will democratise access to equities (as proposed by the EU Commission) for all investors, regardless of resources or sophistication, with a comprehensive and standardised view of EU equities prices.
EFAMA appreciates the opportunity to respond to the IOSCO Retail Market Conduct Task Force's consultation on retail investment trends.
In our view, the IOSCO report provides a comprehensive picture of the retail market trends and risk magnifiers.
We also take the opportunity to share our views on the following areas:
EFAMA replied to the OECD Pillar One – Amount A: Regulated Financial Services Exclusion public consultation. Aiming to change the views of those members of the OECD/IF that still maintain that asset managers should not be excluded from Amount A.
In this comment paper, EFAMA is taking the opportunity to:
EFAMA wholeheartedly supports ESMA’s objective of ensuring a consistent and harmonised application of the MiFID II product governance requirements. In our response to their consultation on the topic, we raised the following points:
EFAMA welcomes the European Securities and Market Authority’s continuous commitment to creating a single market for investment funds, confirmed by the draft regulatory standards currently under consideration. These RTS/ITS would further harmonise information that asset managers should provide to their national competent authorities before marketing or managing an investment fund on a cross-border basis, thus facilitating intra-EU product distribution.
EFAMA welcomes the OECD's work on Schedule C: Exclusion of Revenues and profits from Regulated Financial Services from the scope of Pillar One, in particular the amendments to the definition of “Asset Manager", licensing asset management as a business, the level of regulaton and the activities list.
EFAMA shares the urgent need to improve the consistency and comparability of sustainability reporting at a global level. Therefore, we welcome the opportunity to respond to the ISSB consultation on the Exposure Drafts on “General Requirements for Disclosure of Sustainability Related Financial Information” (IFRS S1) and on “Climate-Related Disclosures” (IFRS S2).
EFAMA strongly supports the initiative carried out by EFRAG with the publication of the Exposure Drafts on the European Sustainability Reporting Standards (ESRS). The Exposure Drafts provide key elements framing the architecture of reporting requirements and clarifying the content and key concepts of CSRD. The resulting data will be of crucial importance for investors and for achieving the EU objective to transition towards a zero emissions economy by 2050.
EFAMA supports the Commission’s efforts to encourage more companies to finance their investment through equity contributions rather than debt financing.
The Commission decided to follow a policy option that will enable the deductibility of an allowance on equity financing costs complemented by a rule to limit the deductibility of interest on debt financing instruments.
Discover the 6 reasons why your organisation should become a member of EFAMA.
Our members enjoy significant benefits including the opportunity to shape the industry positions, get first-hand access to regulatory and political intelligence, engage with industry peers and policymakers, and take part in EFAMA events.
Our three membership categories cater to the wide range of organisations that make up and support the investment management industry in Europe.
Trends in European investment funds (EFAMA Fact Book 2024 release on 18 JUN 2024)