EFAMA leaflet sets out clear recommendations for improvement
The European Fund and Asset Management Association (EFAMA) has launched its AI-system Assessment Tool, which is designed to support firms of all sizes navigate the regulatory complexities of AI. Developed together with EFAMA member experts from across the industry, the Tool will help firms document and assess AI use cases in line with the EU AI Act and other interdependent regulations, including GDPR, MiFIR and DORA, using a free-of-charge standardised tool.
EFAMA has launched its AI-system Assessment Tool, which is designed to support firms of all sizes navigate the regulatory complexities of AI. Developed together with EFAMA member experts from across the industry, the Tool will help firms document and assess AI use cases in line with the EU AI Act and other interdependent regulations, including GDPR, MiFIR and DORA, using a free-of-charge standardised tool.
The general application of the AI Act is set to enter into force next year—including new obligations for high-risk AI system providers.
EFAMA has submitted its response to ESMA’s consultation on the Active Account Requirements (AAR). Our industry stands ready to implement the AAR by June 2025... However, we have strong reservations about the heavy and redundant reporting requirements.
EFAMA has published its latest Monthly Statistical Release for November 2024.
European Commission’s Omnibus initiative should also be used to make CSRD consistent with SFDR
Today the European Securities and Markets Authorities (ESMA) hosted the T+1 Governance Launch Meeting to present the arrangements for driving the move to the reduction of default settlement cycles to T+1 for EU securities markets.
EFAMA replied to a specific question on moving to stage 3 for the determination of the liquidity assessment of bonds.
EFAMA responds to the opportunity to provide feedback to the Article 8 Taxonomy Regulation (EU) 2020/852 (‘taxonomy’) draft delegated act, which the European Commission published for consultation on 7 May. We highlight that the provisions on investee companies in this delegated act will serve as the primary source of input for asset managers´ own disclosures on taxonomy compliance at both product and entity levels.
EFAMA has published its response to the European Commission’s targeted consultation on the supervisory convergence and the Single Rule Book, focusing on three areas for improvement.
The European Find and Asset Management Association appreciates the opportunity to submit its views to the European Supervisory Authorities (ESAs) on the Joint Consultation Paper (CP) regarding draft regulatory technical standards (RTS) for taxonomy-related sustainability disclosures pursuant to Article 8(4), 9(6) and 11(5) of Regulation (EU) 2019/2088 (Taxonomy Regulation or TR).
EFAMA replied to IASB’s Request for Information on the Post-Implementation Review of IFRS 10, 11 and 12. We are delighted to see an investment entity within the funds industry being acknowledged and catered for in IFRS. The development of the consolidation standards was a very welcomed development in the asset management world.

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