Bringing you live news and features since 2006 

Announcement

EFAMA welcomes EC proposal for self-standing prudential regime for investment firms

RELATED TOPICS​

EFAMA has welcomed the European Commission’s proposal for a Directive and a Regulation establishing a self-standing prudential regime for investment firms.

The association supports the regulation’s objectives to establish a clear demarcation between a prudential regime that would be designed around credit institutions (CRD/CRR), and a more proportionate one aimed for a myriad of non-bank actors.
 
In this regard, EFAMA also believes that the accompanying remuneration provisions included in the Directive will help achieve a proportionate regime for investment firm’s non-bank staff.
 
Although some of the technical details will possibly need fine-tuning, we welcome the fact that the Commission has taken an important step forward towards a closer alignment of the existing MiFID regime for discretionary portfolio managers and advisors with the standards of the UCITS/AIFMD frameworks.
 
The self-standing prudential regime fits into the overarching CMU objectives to better respond to societal challenges in the face of ageing populations across the Member States, as well as adapting to the growing importance of the asset management industry within Europe.
 
The Association says: “It is in EFAMA’s prime interest to continue investing our investors’ capital over the long-term. As such, we consider that a gradually harmonised and unique EU regime for asset management companies, irrespective of whether it is discretionary or collective, remains essential. Today, the Commission has taken a decisive step in this direction. Uncertainties nevertheless remain with regard to the role of national market supervisors in the European System of Financial Supervision, where the proposal preserves banking authorities’ oversight powers, as Members of the EBA, over investment firms under the new regime.
 
“We look forward to continue working with the Commission’s services and, from here onwards, with the Council and the European Parliament, by addressing some of the proposal’s technicalities, in view of putting this new regime in practice sooner, rather than later.”

Latest News

News came last night from the US that the SEC has approved CBOE’s proposal to list and trade VanEck’s spot..
Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15 per cent increase in net..
European white label ETF platform, HANetf, has announced its total assets under management (AUM) has now exceeded USD4.31 billion...
New research from European ETF provider Tabula Investment Management shows investors are expecting improvements in ESG from the gold mining..

Related Articles

Timothy Rotolo, Range Funds
In 2023, Timothy Rotolo launched his business, Range Fund Holdings, the parent company for Range Indices and Range ETFs, followed...
Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by