Management Companies

EFAMA has been looking at legislative proposals with a direct impact on asset management companies and services, and closely follows any regulatory developments of critical importance to the sector. In addition to issues related to risk management and financial stability, high up on the agenda of EFAMA members is the framework for a prudential regime for Investment Firms (IFD/R), and related implementing measures directly descending from such framework.

EFAMA is focused on minimising the impact of the rules on asset management companies, in particular those holding a limited MiFID license. Key to the sector is the need for proportionality, especially firms that are not authorised to hold client money/securities, or to deal on their own account.

Related policy positions

Policy position

EFAMA response to EBA's CPs on implementation measures of new regulatory framework for Investment Firms

Management Companies

04 September 2020

EFAMA responds to EBA CPs on implementation measures of new regulatory framework for Investment Firms

In light of the current COVID-19 circumstances and the already existing ambitious time table for the implementation, EFAMA calls for the EBA to carefully consider these circumstances and request the EC to postpone the date for the application of the IFD/IFR framework (26 June 2021) and the time table of the level 2 measures (such as the deadline of 26 December 2020 for providing drafted RTS and ITS).

Policy position

EFAMA Reply to consultation for an EC Action Plan to prevent money laundering and terrorist financing

Management Companies

Anti-Money Laundering

26 August 2020

EFAMA Reply to consultation for an EC Action Plan to prevent money laundering and terrorist financing

As highlighted in President’s von der Leyen guidelines for the new Commission, the complexity and sophistication of the Union’s financial system has opened the door to new risks of money laundering and terrorist financing. The European Union needs to step up its regulatory framework and preventive architecture to ensure that no loopholes or weak links in the internal market allow criminals to use the EU to launder the proceeds of their illicit activities.

Policy position

Associations Letter: Integration of sustainability factors and risks into MiFID II IDD and Solvency II

Distribution ＆ Client Disclosures

Management Companies

Sustainable Finance

27 July 2020

Associations Letter: Integration of sustainability factors and risks into MiFID II IDD and Solvency II

International Statistics Q1 2020 | Large drop in worldwide investment fund assets in Q1 2020 against the backdrop of large net inflows

The European Fund and Asset Management Association (EFAMA), has today published its latest International Statistical Release describing the trends in worldwide investment fund industry in the first quarter of 2020*.

Worldwide regulated open-ended fund assets decreased by 10.8 percent to EUR 47.1 trillion in the first quarter of 2020. Worldwide net cash flow to all funds amounted to EUR 617 billion, compared to EUR 808 billion in the fourth quarter of 2019.

Press Release

Competitiveness

EU Fund regulation

UCITS

Management Companies

AIFMD

09 June 2020

European Statistics Q1 2020 | Alternative Investment Funds continued to attract net new money in Q1 2020 despite Covid19

The European Fund and Asset Management Association (EFAMA) has today published its Quarterly Statistical Release describing the trends in the European investment fund industry in the first quarter of 2020 with key data and indicators for each EFAMA member countries.

Publication

MIFID

Distribution ＆ Client Disclosures

PRIIPs

Management Companies

AIFMD

03 June 2020

Investment Funds Distributor Due Diligence Questionnaire

Funds face unique challenges in performing intermediary oversight, and especially so because of MiFID II requirements, changing regulatory landscapes, and the absence of an industry agreed-upon standard between funds and their distribution channels. To help address these challenges, a dedicated working group developed a uniform due diligence questionnaire (DDQ) that will serve as the standard for investment funds (UCITS and AIFs) in performing onboarding and ongoing oversight of distribution channels.

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Related publications

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

EU Fund regulation

Exchange-traded Funds

Management Companies

19 November 2020

Demystifying ETPs: an EFAMA guide for the European investor

Through its ETF Task Force, EFAMA has produced an Investor Education Guide intended to draw out, in a simple form, the defining features for the three main types of ETPs (Exchange-traded products) listed across European markets. The association hopes this guide will primarily assist investors in having a clearer understanding of different ETPs and help investors appreciate the differences between them, especially from a risk and product complexity viewpoint.

Publication