FIA EPTA welcomes the opportunity to provide feedback on the proposed MiFID II Quick-fix rules in relation to research on companies seeking alternative financing. Overall, FIA EPTA members believe that the unbundling rules laid out in MiFID II removed an important source for conflicts of interest and has reinforced the independence of research. We note that the market has fully implemented and adapted to research unbundling with clients now accustomed to receiving disaggregated cost information that differentiates between costs attributable to research from those related to execution.
CONTINUE READINGFIA European Principal Traders Association (FIA EPTA) appreciates the opportunity to provide feedback to the European Banking Authority (EBA) on the implementation of the new regulatory framework for investments firms (IFR/IFD). FIA EPTA has consistently welcomed the new prudential regime for investment firms contained in the Investment Firm Regulation and Directive (IFR/IFD), which is aimed at creating a tailored and proportionate prudential framework for firms such as those we represent.
CONTINUE READINGFIA EPTA members welcome the opportunity to respond to the European Commission's consultation on the renewed sustainable finance strategy. FIA EPTA members will argue that there is a large variety of ESG ratings in the market, this makes it difficult, if not impossible, to come up with truly meaningful and harmonized ESG ratings between the different rating agencies. FIA EPTA Members argue for more standardisation of ESG indicators.
CONTINUE READINGFIA EPTA members welcome the opportunity to give feedback to the Capital Markets Union High Level Forum final report. The Capital Markets Union is essential for building up a stronger equity culture in Europe and for opening up or expanding other sources of capital for financing. And of course, a more diversified financial system is also more resilient and stable. FIA EPTA members strongly believe proportionate regulation of the financial markets is key to achieving the twin goals of strengthening economic growth and ensuring financial stability.
CONTINUE READINGFIA EPTA members strongly support the transparency objectives targeted by MiFID II/MiFIR and welcome the opportunity to respond to the ESMA consultation on its review report on the transparency regime for non-equity instruments and the trading obligations for derivatives.
CONTINUE READINGFIA EPTA’s members have elected a new Executive Committee as the governing body of the industry organisation.
CONTINUE READINGFIA EPTA members consider that MiFID II has greatly strengthened European secondary markets operational resilience, which has been borne out in the recent COVID-19 crisis where EU financial markets have 2 continued to operate in an orderly fashion in spite of very significant volatility and trading volumes.
CONTINUE READINGThe Alternative Investment Management Association (“AIMA”), FIA European Principal Traders Association (“FIA EPTA”), Managed Funds Association (“MFA”) and the World Federation of Exchanges (“WFE”) issued a letter to express our concern that current restrictions on short selling are hurting markets, disadvantaging investors and undermining the longer-term goal of building a Capital Markets Union.
CONTINUE READINGFIA EPTA is appreciative of the opportunity to provide an industry review and analysis of the FCA Occasional Paper No. 50, “Quantifying the High-Frequency Trading ‘Arms Race’: A new methodology and estimates” by Matteo Aquilina, Eric Budish and Peter O’Neill (“the Occasional Paper”).
CONTINUE READINGFIA EPTA members are pleased to provide feedback to ESMA on its draft technical standards on the provision of investment services and activities in the Union by third-country firms under MiFID II and MiFIR as amended by the Investment Firm Regulation (IFR).
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