Capital markets

Investment managers, acting on behalf of their retail and institutional clients, are among the largest investors in financial markets. They represent a key component of the market’s “buy-side” segment.

In representing the interests of its members on wholesale capital market issues, EFAMA advocates for fair, deep, liquid, and transparent capital markets, supported by properly regulated and supervised market infrastructure.

Related policy positions

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year

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Policy position

EFAMA's reply to ESMA's CP on MiFIR Review report on the obligations to report transactions & reference data

Capital Markets

Distribution ＆ Client Disclosures

EU Fund regulation

UCITS

23 November 2020

EFAMA's reply to ESMA's CP on MiFIR Review report on the obligations to report transactions & reference data

We disagree with an extension of its scope to UCITS’ and AIFs’ management companies to the scope of the reporting requirements imposed by MiFIR, Art. 26. This extension would be in breach of the principle of proportionality, as:

Policy position

EFAMA’s position on EC proposal to modify Investment Research

Capital Markets

14 September 2020

EFAMA comments EC CP on a Covid-19 Capital Markets Recovery Package

EFAMA appreciates the Commission's efforts in pursuing an alleviation of certain MiFID II requirements in the interest of promoting a swift recovery from the economic crisis precipitated by the Covid-19 pandemic (....).

EFAMA believes however that there are more effective ways to foster SME access to markets and urges the Commission to consider a set of further measures (...)

Policy position

EFAMA's response to ESMA's Call for evidence on the availability and use of credit rating information & data

Capital Markets

03 August 2020

EFAMA's response to ESMA's Call for evidence on the availability and use of credit rating information & data

Market data users have identified important gaps in plans for EU consolidated tape

List of recommendations show what is needed to ensure a successful tape.

Publication

Capital Markets

01 July 2025

Advancing EU capital markets: Prioritising key targets for the Savings and Investments Union

Viewpoint

Capital Markets

24 June 2025

Building resilience in capital markets: How to prevent ‘dashes for cash’ during financial crises?

This article was first published in the 23rd edition of the Fact Book on 24 June 2025.

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Related publications

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year

Keywords

Publication

Capital Markets

Data

EU Fund regulation

Management Companies

AIFMD

Tax ＆ Accounting

26 November 2020

Asset Management in Europe - An Overview of the Asset Management Industry - November 2020

The report aims to provide a unique and comprehensive set of facts and figures on the state of the industry at the end of 2018 but also to highlight the fundamental role of asset managers in the financial system and wider economy.

Publication

Capital Markets

Capital Markets Union

Competitiveness

Data

Distribution ＆ Client Disclosures

EU Fund regulation

International agenda

Management Companies

Pensions

Stewardship

Supervision

Sustainable Finance

Tax ＆ Accounting

11 June 2020

Annual Review June 2019-June 2020

"It gives me great pleasure to provide you with an overview of our activities since our Annual General Meeting in Paris last year. While we were very much looking forward to hosting you all in Brussels this week, the current crisis and associated travel restrictions has forced us to improvise and turn our meeting into a virtual AGM.

Publication