This is a timely and necessary review to which we hope to contribute in a constructive manner. As already recognised in the consultation paper and in the MiFID Quick Fix proposal, RTS 27 and RTS 28 currently fall short of the objective of providing valuable and comparable datasets for investment managers and the investing public. We appreciate the present effort to revise reporting requirements to produce more meaningful reports.
Capital markets
Investment managers, acting on behalf of their retail and institutional clients, are among the largest investors in financial markets. They represent a key component of the market’s “buy-side” segment.
In representing the interests of its members on wholesale capital market issues, EFAMA advocates for fair, deep, liquid, and transparent capital markets, supported by properly regulated and supervised market infrastructure.
Related policy positions
Policy position
Capital Markets
MIFID
22 December 2021
EFAMA’s response to ESMA’s Review of the MiFID II framework on best execution reports
Policy Position
Capital Markets
CSDR
22 December 2021
Industry Approach to CSDR Settlement Discipline Regime
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
Policy Position
Capital Markets
MIFID
15 December 2021
Joint Statement on EU Commission proposal for revised Market in Financial Instrument Regulation (MiFIR)
We see great value in the creation of a consolidated tape to support Europe’s capital markets. However, we qualify that statement with a reminder that the framework for a successful consolidated tape should
i) address the known market failure around market data costs,
Related news
Press Release
Capital Markets
Capital Markets Union
Data
03 November 2020
An appropriately constructed Consolidated Tape could help to build deeper and more open capital markets in Europe
EFAMA and EFSA welcome the publication of a Market Structure Partners Study on the Creation of an EU Consolidated Tape which addresses the challenges, demand, benefits and proposed architecture for consolidating European financial market data.
Speech
Capital Markets
Distribution ＆ Client Disclosures
13 October 2020
Speech by Tanguy van de Werve at CMVM Annual Conference on 8 October 2020
CMVM 2020 Conference – 8 October 2020
Press Release
Capital Markets
MIFID
Distribution ＆ Client Disclosures
22 May 2020
EFAMA calls for changes to investor protection rules in MIFID II / MIFIR Review
EFAMA has submitted its 
response to the European Commission's consultations on the review of the MIFID II / MIFIR regulatory framework, where it has outlined its recommendations on investor protection and capital markets and infrastructure.
EFAMA's Director General Tanguy van de Werve commented:
Related publications
Publication
Capital Markets
CSDR
05 March 2021
3 questions to Agathi Pafili on CSDR
Q #1 What is the CSDR’s Settlement Discipline Regime (SDR) and what does it seek to achieve?
Publication
Capital Markets
Data
EU Fund regulation
Management Companies
AIFMD
Tax ＆ Accounting
26 November 2020
Asset Management in Europe - An Overview of the Asset Management Industry - November 2020
The report aims to provide a unique and comprehensive set of facts and figures on the state of the industry at the end of 2018 but also to highlight the fundamental role of asset managers in the financial system and wider economy.
Publication
Capital Markets
Capital Markets Union
Competitiveness
Data
Distribution ＆ Client Disclosures
EU Fund regulation
International agenda
Management Companies
Pensions
Stewardship
Supervision
Sustainable Finance
Tax ＆ Accounting
11 June 2020
Annual Review June 2019-June 2020
"It gives me great pleasure to provide you with an overview of our activities since our Annual General Meeting in Paris last year. While we were very much looking forward to hosting you all in Brussels this week, the current crisis and associated travel restrictions has forced us to improvise and turn our meeting into a virtual AGM.
Contact
Deputy Director, Capital Markets and Digital
