The European Fund and Asset Management Association (EFAMA) has published today its response to the European Commissions consultation document proposal for an initiative on sustainable corporate governance.
The European Fund and Asset Management Association (EFAMA) has published today its response to the European Commissions consultation document proposal for an initiative on sustainable corporate governance.
The European Fund and Asset Management Association (EFAMA) has published today its response to the European Commissions public consultation on the review of the Alternative Investment Fund Managers Directive (AIFMD).
The European Fund and Asset Management Association (EFAMA) today shared its recommendations to the European Commission on measures to be taken to improve the European Long-Term Investment Fund (ELTIF) regime.
The European Fund and Asset Management Association (EFAMA) has today published its latest monthly Investment Fund Industry Fact Sheet, which provides net sales data of UCITS and AIFs for November 2020*.
|
The European Fund and Asset Management Association (EFAMA) regrets that the European Commission has decided to endorse EIOPAs proposal to include the initial cost of advice under the 1% fee cap for the Basic PEPP (pan-European Personal Pension Product).
The PEPP has the potential to play an important role in delivering retirement savings to millions of European savers, while at the same time contributing to the success of the CMU through the creation of new pools of long-term capital that can help finance the European economy.
The European Fund and Asset Management Association (EFAMA) has today published its latest monthly Investment Fund Industry Fact Sheet, which provides net sales data of UCITS and AIFs for October 2020*.
Bernard Delbecque, Senior Director for Economics and Research commented: "Net sales of UCITS equity funds, although remaining positive, fell to a very low level in October against the backdrop of increases in Covid-19 cases and new lockdown measures."
The main developments in October 2020 can be summarized as follows:
As the voice of the European asset management industry, EFAMA strongly welcomes the development of the EU Taxonomy and its proposed technical screening criteria in the Delegated Acts. EFAMA sees the Taxonomy as a critical tool to unleash the potential of sustainable finance in Europe by assisting issuers, project promoters, companies, investors, and other financial market participants in identifying truly sustainable economic activities. |
EFAMA has published its response to the UK FCA’s consultation paper (CP23/28) on updating its regime for Money Market Funds (MMFs). While fundamentally agreeing on the need to definitely remove the existing link between liquidity breaches and the potential activation of LMTs for stable NAV MMFs, we express significant reservations with the proposed enhancements to the existing liquidity ratios across all types of MMF structures.
The UK regulator (FCA) has taken a pragmatic approach in developing its Overseas Fund Regime (OFR) specifying the process that European retail funds would have to follow to gain, and keep, access to the UK market. This regime, which will replace the Temporary Marketing Permission Regime (TMPR), offers a streamlined access to the UK market in comparison to the current and time-consuming recognition process which is open to all overseas funds (...)
In a joint letter, EFAMA, together with the European Banking Federation (EBF), Insurance Europe, European Savings and Retail Banking Group (ESBG), Alternative Investment Management Association (AIMA), Association for Financial Markets in Europe (AFME), and the European Association of Cooperative Banks, have released a joint letter asking the European Commission to better coordinate the publication of new rules for the Sustainable Finance Disclosure Regulation (SFDR).
The proposal by the European Commission to amend the Benchmarks Regulation represents an overall welcome development in this field, seeking to introduce greater proportionality in the regulation of index providers. While we support the spirit of the proposal, EFAMA advocates retaining certain minimum safeguards applicable to non-significant benchmarks for the protection of users and end investors.
The Sustainable Finance Disclosure Regulation (SFDR) has promoted transparency in sustainable finance, however its use by market participants as a de facto ESG labelling regime has stretched it beyond its original intentions and not always been helpful. The current European Commission review needs to address how SFDR can provide clearer, more meaningful information for retail investors, promote transition finance, and align well with other relevant legislation.
EFAMA is pleased to share its response to the ESMA Call for Evidence on shortening the settlement cycle. In light of the imminent US move to T1, EFAMA supports a timely transition to T1 for Europe, while calling for a dynamic roadmap which can be adapted and modified as lessons from the US migration become known.
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)