Joint Statement on EU Commission proposal for revised Market in Financial Instrument Regulation (MiFIR)
EFAMA and EFSA comment on the EU Commission proposal for a revised Market in Financial Instrument Regulation (MiFIR)
EFSA is a forum of European Securities Associations for information sharing and fostering mutual understanding. EFSA itself is not a legal entity but a self-organising informal working-group. As such, it also helps to deliver joint messages on policy issues in European securities markets to policy makers, regulators and supervisors who we hope might benefit from such a coordinated approach. EFSA complements the existing activities of its member-associations. EFSA maintains active collaboration with sister associations in Europe and worldwide and is open to further partnership with similar counterparts.
EFAMA and EFSA comment on the EU Commission proposal for a revised Market in Financial Instrument Regulation (MiFIR)
EFAMA and EFSA publish a joint statement on Market Structure and Transparency
EFAMA and EFSA publish a joint statement on the proposed introduction of a consolidated tape.
EFAMA and EFSA welcome the publication of Market Infrastructure Partners’ Study on the Creation of an EU Consolidated Tape which addresses the challenges, demand, benefits and proposed architecture for consolidating European financial market data.
The European Fund and Asset Management Association (EFAMA) and the European Forum of Securities Associations (EFSA) jointly publish a statement on the benefits of reasonable market data costs fort he real economy.
MiFID 2/R, in conjunction with Level 2 and Level 3, forms the cornerstone of financial regulation for securities markets in EU. However, there are some areas of MiFID2/R which need recalibration in order to deliver the intended policy outcome and to avoid unintended harm to the market, liquidity and investor choice. Considering that the timeline for the Commission’s reports on certain parts of MiFID 2/R is approaching, EFSA members would like to contribute to the discussion by highlighting a number of issues which we believe should be a priority in the context of a review.
EFSA wrote to the finance ministers of states participating in the enhanced cooperation procedure for the European financial transaction tax (FFT). EFSA spells out the highly negative consequences that the FTT would have not only for the economy – it would put a damper on growth – but also for issuers and investors, who are the end-users of financial markets. These findings are based on a report by Oliver Wyman titled The impact of the EU-11 financial transaction tax on end-users.
ESMA members, together with other financial market trade associations, issued a statement in support of a Transatlantic Trade and Investment Partnership (TTIP) that includes financial services regulatory coordination, in advance of the March 26 EU‐US Summit attended by US President Barack Obama, European Council President Herman Van Rompuy and European Commission President José Manuel Barroso.
European trade associations write a joint letter to members in order to raise the awareness of the requirement to use legal entity identifier (LEI) codes under the EMIR regulation.
EFSA raises its voice towards EU institutions, requesting a stronger coherence with respect to European implementation timeframes.
EFSA submits a comment letter in reply to CESR’s call for evidence concerning the regulation of short selling.
