Policy | EFAMA

Latest positions

Policy Topics

Policy position

Sustainable Finance

Ecolabel

11 December 2020

EFAMA reply to JRC CP on 3rd technical report: Development of EU Ecolabel Criteria for Retail Financial Products

EFAMA contributed to the ad-hoc working group for the development of the EU Ecolabel for retail financial products. EFAMA believes the third technical report strikes a better balance between the strictness of criteria and a sufficiently large pool of investment opportunities, and presents its further recommendations in its response to the JRC CP.

Policy position

EFAMA reply to ESMA's CP on the draft advice to EU Commission under Article 8 of the Taxonomy Regulation

Sustainable Finance

EU Taxonomy

04 December 2020

Article 8 of the Taxonomy Regulation - EFAMA reply to ESMA CP on draft advice to EU Commission

In its support of the development and implementation of the Taxonomy Regulation, EFAMA believes that reporting on the level of alignment with the Taxonomy by non-financial and financial undertakings is essential to strengthening market integrity around sustainability issues.

Policy position

EMIR

30 November 2020

Joint Association letter to the EC on the equivalence of UK derivatives regulated markets under EMIR Article 2a

FIA, ISDA, AFME, ICI, AIMA, EBF and EFAMA (together the Associations) welcome the
European Commission's (the Commission) timely and temporary equivalence decision from
21 September 2020 with respect to UK central counterparties (CCPs) and subsequent
recognition decisions by ESMA of CCPs and the recent temporary equivalence decision for
UK Central Securities Depositories (CSDs) under CSDR. Together, these steps have provided
much needed certainty for continued and uninterrupted access to these CCPs and CSDs by

Policy position

25 November 2020

EFAMA's reply to ESMA's CP on MiFID II / MiFIR review on the functioning of Organised Trading Facilities (OTF)

EFAMA has some concerns with ESMA’s clarifications. In the consultation paper (CP), ESMA seems to have a very broad interpretation of the ‘multilateral systems’ definition under MiFID II and states that ‘systems where trading interests can interact but where the execution of transactions is formally undertaken outside the system still qualify as a multilateral system and should be required to seek authorisation’ (paragraph 36).