Events listed in [EFAMA] European Fund and Asset Management Association

Key messages on the Implementation of SFDR

ID 26440
EFAMA published its response to EC’s targeted consultation on the implementation of SFDR (eventid=22926). The SFDR aimed to enhance transparency in sustainable finance, but its adoption as a de facto ESG labeling regime by market participants has led to unintended complexities. The EC’s review needs to enhance SFDR’s clarity for retail investors, promote transition finance, and align with other relevant legislation. Proposed solutions include ...

Shortening the settlement cycle

ID 26398
EFAMA supports a timely transition to a T+1 settlement cycle for Europe in response to the ESMA Call for Evidence (eventid=23184). EFAMA acknowledges the imminent move to T1 in the US (eventid=19797, eventid=24191) and emphasizes the need for a dynamic roadmap that can be adapted based on lessons learned from the US migration. The document highlights the **potential impacts of moving to T+1 or ...

New EFAMA brochure answers key questions on sustainable investing, to assist EU ...

ID 25962
EFAMA has released a brochure titled „Sustainable Investing Explained in 9 Questions“ to assist EU citizens in navigating the complex landscape of sustainable investing. The brochure covers key aspects such as defining sustainable investing, available investment strategies, the impact of sustainable investments, questions to ask when selecting sustainable products, and how to get started. It emphasizes the importance of understanding one’s **motivations for ...

Retail Investment Strategy: Positive elements for European Investors and ones that ...

ID 25953
EFAMA has actively engaged in the ongoing discussions surrounding the EC’s RIS, currently undergoing scrutiny within the EP and Council. EFAMA has highlighted several positive elements in the strategy, along with crucial areas that warrant reconsideration. Among the positive elements, EFAMA supports the integration of digital disclosure documents, promoting user-friendly technologies for enhanced accessibility. They also advocate for alignment across different financial ...

EFAMA Note: Impacts of US T1 on EU Regulation

ID 25655
EFAMA published a paper discussing the potential impacts of the US transitioning to a T+1 settlement cycle in May 2024 (US-eventid=19797) on EU regulations. The shift from T+2 to T+1 settlement cycles between the US and the EU is expected to introduce operational challenges and potentially alter market structures. However, a more direct consequence highlighted in the note is the impact on the enforcement ...

Newly agreed AIFMD & UCITS rules will improve the EU funds market

ID 25648
EFAMA congratulates the EC and co-legislators for maintaining the key elements of both directives during the review of AIFMD and UCITSD. The preservation of the delegation framework is seen as positive, offering investors broader access to investment opportunities and diversification. While the new rules introduce some reporting duplication for delegation to national authorities, it is expected to enhance transparency and provide supervisors with a ...

New rules on multiple voting shares must strike the right balance between issuer ...

ID 25507
EFAMA published a Position Paper on the EC’s Multiple Voting Shares Directive (eventid=18761), acknowledging EC’s efforts to enhance the CMU and bolster public capital markets‘ competitiveness. However, EFAMA raises concerns and emphasizes the need for a balanced approach in regulating multiple voting share structures. EFAMA underscores the importance of maintaining a balance between the interests of issuers and investors. While acknowledging the significanc ...

New AML package needs clear rules that help identify beneficial owners

ID 25299
EFAMA is commenting on the EC’s AML package proposal as the EP and Council are currently finalizing their views on it. EFAMA highlights the identification of beneficial owners as a crucial aspect of this proposal. EFAMA emphasizes the need for clear and calibrated rules for identifying beneficial owners in customer due diligence processes. They argue that a uniform threshold of 25% should be maintained ...

ESMA’s call for evidence on the integration of ESG preferences on suitability and ...

ID 24967
EFAMA responded to ESMA’s request for feedback regarding the integration of ESG preferences into suitability and product governance arrangements. As a reminder, ESMA launched a CfE to gather feedback on sustainability integration in MiFID II. ESMA’s aim is to understand firms‘ compliance, investor experiences, and sustainable investment trends. ESMA and NCAs will assess responses and monitoring MiFID II compliance. In their response, EFAMA expressed ...

Proposed changes to DORA require more proportionality and simplicity

ID 24909
EFAMA has provided feedback on three consultation papers (JC 2023 34, JC 2023 35 and JC 2023 39) concerning the proposed changes to the DORA in the financial sector. Their primary concern is the absence of proportionality and simplicity in the current draft regulatory and implementing technical standards. EFAMA highlights the need for a more comprehensive incorporation of the proportionality principle in DORA. They ...
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