Naïm Abou-Jaoudé, EFAMA President, comments:
Naïm Abou-Jaoudé, EFAMA President, comments:
Investors, asset managers and civil society organisations call for the prompt implementation of the reform on corporate sustainability reporting and EU standards
The Joint Associations1 welcome clarification from ESMA that national competent authorities are expected not to prioritise supervisory actions in relation to the application of the CSDR buy-in regime.2
The investment industry and policymakers must co-ordinate efforts to promote funded retirement savings and improve financial literacy to ensure that billions of people can live comfortably in their later years and, in the process, ease the fiscal pressure on governments. Financially-literate individuals are more likely to make better-informed financial decisions and to understand the benefits of long-term investments.
EFAMA has today published its latest monthly Investment Fund Industry Fact Sheet, which provides net sales data on UCITS and AIFs for October 2021, at European level and by country of fund domiciliation.
The main developments in October 2021 can be summarised as follows:
With 2021 drawing to a close, we wish you a safe and peaceful festive season. Join us in welcoming 2022 with hope and optimism.
On 1 February, Tanguy van de Werve, EFAMA's Director General has been invited to speak at the ESAs high-level conference on financial education and literacy. He will participate in the panel in a panel on 'Financial education and Capital Market Union' together with: Tatyana Panova, Head of Unit, Capital Market Union unit, European Commission (DG FISMA); Jean-Paul Servais, Chairman of the Belgian Financial Services and Markets Authority (FSMA) and vice chair of the IOSCO Board, and Aleksandra Mączyńska, Executive Director, Better Finance.
EFAMA welcomes the European Commission’s review of the Alternative Investment Fund Management Directive (AIFMD), setting out targeted improvements to key provisions in the current framework. Such targeted improvements will make strides in advancing the Capital Markets Union. At the same time, they maintain the framework which has underpinned a decade of growth in the European Alternative Investment Fund (AIF) market and proven resilient even throughout recent market stresses.
EFAMA firmly supports the European Commission’s proposal to revise the European Long-Term Investment Fund (ELTIF) Regulation. The revised framework has the potential to transform ELTIF into a product of choice for European investors and to become a cornerstone of the Capital Markets Union.
We welcome yesterday's vote by the European Parliament plenary formally adopting two ‘quick fixes’ for PRIIPs (Packaged retail investments and insurance-based products) and UCITS (Undertakings for Collective Investment in Transferable Securities).
EFAMA welcomes this opportunity to comment on the review of the provisions within the Short Selling Regulation. We have limited our responses to those questions of most relevance to our membership.
As the European Union’s financial system has become more complex, it has also opened the door to new risks of money laundering and terrorist financing. EFAMA supports the new regulatory package proposed by the Commission on 20 July 2021, believing this initiative will make strides in ensuring that no loopholes or weak links in the internal market allow criminals to use the EU to launder the proceeds of their illicit activities.
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EFAMA shared its views on the EBA’s Draft Guidelines on policies and procedures in relation to compliance management and the role and responsibilities of the AML/CFT Compliance Officer under Article 8 and Chapter VI of Directive (EU) 2015/849 (the ‘Draft Guidelines’).
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Trends in European investment funds (EFAMA Fact Book 2024 release on 18 JUN 2024)