In our response to ESMA on its review of the guidelines on stress-testing parameters for Money Market Funds (MMFs), EFAMA cautions against using overly simplistic assumptions.
In our response to ESMA on its review of the guidelines on stress-testing parameters for Money Market Funds (MMFs), EFAMA cautions against using overly simplistic assumptions.
EFAMA has today published its latest monthly Investment Fund Industry Fact Sheet, which provides net sales data on UCITS and AIFs for February 2023, at European level and by country of fund domiciliation.
In a letter to policymakers, 18 European buy-side firms state that only an Equities/ETFs tape that delivers data in real-time and that includes pre-trade data in the form of 5 layers of best bid and offer, will meet with the necessary market demand to make the Equities/ETFs Consolidated Tape commercially viable. A reasonably priced tape is also a precondition for success, they argue.
18 European buy-side firms, including Union, Generali, Invesco, Legal and General, Schroders and Baillie Gifford, have today declared their full support for the European Parliament’s proposal on the Equities Consolidated Tape. In a letter to policymakers, they state that only an Equities/ETFs tape that delivers data in real-time and that includes pre-trade data in the form of 5 layers of best bid and offer, will meet with the necessary market demand to make the Equities/ETFs Consolidated Tape commercially viable.
EFAMA comments the European Commission's ViDA Proposal and welcomes the consistency of the proposal and the fact that VAT-exempt services will not be covered by the new DDR. With this solution, the proposal should allow tax authorities to focus on the real risk of tax fraud cases and should not create new burdensome procedures/compliance obligations that would represent new costs that in the end would be imposed on clients/consumers (e.g. end investors) for no reason.
EFAMA has today published its latest monthly Investment Fund Industry Fact Sheet, which provides net sales data on UCITS and AIFs for January 2023, at European level and by country of fund domiciliation.
EFAMA has today published its International Quarterly Statistical Release regarding the developments in the worldwide investment fund industry during the fourth quarter of 2022.
EFAMA, EBF, AIMA, FIA and ISDA (the ‘Associations’) welcome the co-legislators' political agreement on EMIR 3.0, which was endorsed by the Council and European Parliament on 14 February and 4 March 2024, respectively.
ESMA’s Call for Evidence on the UCITS Eligible Assets Directive is a welcome opportunity to take stock of the existing UCITS framework.
EFAMA welcomes the launch of this public consultation to evaluate and assess the effectiveness, efficiency and continued relevance of the DAC and its amendments (DAC2 to DAC6), as well as its coherence with other policy initiatives, priorities and the EU added value.
EFAMA agrees with the FSB that market participants should integrate the management of margin and collateral calls into their risk management, governance, and operational processes.
The competitiveness of EU asset managers is heavily reliant on the quality, stability, cost-efficiency and predictability of the rules under which they operate.
As part of our recommendations to make competitiveness a central element of all EU policies, we highlight the importance of tackling anti-competitive market practices and the ever-increasing cost of various types of data.

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