EFAMA responded to a public consultation of the Platform on Sustainable Finance on a social taxonomy.
EFAMA responded to a public consultation of the Platform on Sustainable Finance on a social taxonomy.
EFAMA responded to a public consultation of the Platform on Sustainable Finance on taxonomy extension options linked to environmental objectives.
The European Fund and Asset Management Association (EFAMA) has today published its latest monthly Investment Fund Industry Fact Sheet, which provides net sales data on UCITS, and AIFs sold in June 2021, at European level and by country of fund domiciliation.
The Commission is trying to understand how the EU legal framework could be improved to tackle the use of legal entities with no or minimum substance and no real economic activities, by taxpayers operating cross-border to reduce their tax liability.
While cognisant of the FSB’s strict timelines in view of upcoming G20 summits, these should not come at the expense of a necessary and more informed debate on the causes at the root of last year’s stresses in global short-term funding markets (STFMs) and on ways to remedy these in the future. In fact, the options presented in the consultation report appear hurried and dismissive of critical facts, calling therefore for a deeper engagement with the global financial and investing community at large.
EFAMA welcomes IOSCO's enhanced attention to transparency efforts supporting informed and qualified investment decisions in sustainability-related products. We support the adoption of such recommendations at the international level and believe IOSCO should leverage the experience with SFDR and Taxonomy in Europe to help establish consistent international standards, definitions and best practices.
In this response, we would like to highlight three pressing challenges deserving greater attention in the report from asset managers' perspective.
EFAMA wholeheartedly supports a retail investment strategy that gives EU citizens the necessary tools and the confidence to put their savings to work by investing in capital markets.
The European Fund and Asset Management Association (EFAMA) has today published its latest monthly Investment Fund Industry Fact Sheet, which provides data on UCITS, and AIFs sold in May 2021, at European level and by country of fund domiciliation.
Thomas Tilley, Senior Economist, commented: “Net assets of UCITS and AIFs breached the EUR 20 trillion threshold for the first time ever in May, thanks to solid net sales and the strong performance of global stock markets in recent months”
Investors, asset managers and civil society organisations call for the prompt implementation of the reform on corporate sustainability reporting and EU standards
This is a timely and necessary review to which we hope to contribute in a constructive manner. As already recognised in the consultation paper and in the MiFID Quick Fix proposal, RTS 27 and RTS 28 currently fall short of the objective of providing valuable and comparable datasets for investment managers and the investing public. We appreciate the present effort to revise reporting requirements to produce more meaningful reports.
The Joint Associations1 welcome clarification from ESMA that national competent authorities are expected not to prioritise supervisory actions in relation to the application of the CSDR buy-in regime.2
EFAMA welcomes ESMA’s Call for Evidence to assess the rapidly shifting investment landscape and ensure that the current regulatory environment, its underlying market structure, and the existing industry practices safeguard retail investors’ interests. It is our strong belief that improving retail investor empowerment in Europe is key to further develop and deepen its capital markets.
We see great value in the creation of a consolidated tape to support Europe’s capital markets. However, we qualify that statement with a reminder that the framework for a successful consolidated tape should
i) address the known market failure around market data costs,
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