ESMA’s Call for Evidence on the UCITS Eligible Assets Directive is a welcome opportunity to take stock of the existing UCITS framework.
Policy
FSB consultation on liquidity preparedness for margin calls in non-bank financial intermediation
EFAMA agrees with the FSB that market participants should integrate the management of margin and collateral calls into their risk management, governance, and operational processes.
Cross-cutting issues on EU data
The competitiveness of EU asset managers is heavily reliant on the quality, stability, cost-efficiency and predictability of the rules under which they operate.
As part of our recommendations to make competitiveness a central element of all EU policies, we highlight the importance of tackling anti-competitive market practices and the ever-increasing cost of various types of data.
EFAMA & EFSA joint letter on FCA wholesale market data study
The FCA’s recent report on the wholesale data market is an important and high-quality study which echoes many long-standing buy-side concerns. It finds evidence of unequal market power in terms of market concentration, highly profitable margins, opaque pricing practices, excessive charging, bundling practices and complex licensing agreements, all of which negatively impact data users. Much of this data is indispensable for users to stay in business and fulfil regulatory obligations.