📢 Joint Industry Statement: Unlocking the Potential of EU Retail Investment The EACB has joint efforts with other financial services associations to call for a critical competitiveness check of the Retail Investment Strategy (RIS). As currently proposed, the RIS risks adding unnecessary complexity to already heavily regulated investment frameworks, deterring retail participation in European capital markets and imposing excessive burdens on firms and investors. To refocus the RIS on what matters, the banking, asset managers and insurance industry associations have developed a statement proposing EU policymakers to: 🔹 Simplify rules for firms and investors, avoiding disproportionate compliance requirements. 🔹 Streamline the investment process, ensuring it is accessible, affordable, and user-friendly. 🔹 Reduce information overload, emphasizing clear, relevant disclosures that empower investor decision-making. By addressing these priorities, the RIS can align with its initial goals, unlock the potential of EU capital markets, and support the Savings and Investments Union’s comprehensive objectives. 👉 READ THE JOINT STATEMENT - https://lnkd.in/eyHvp2ht #EUCompetitiveness #RetailInvestmentStrategy #EUFinance #CapitalMarkets #coopbanks #SavingsandInvestmentsUnion European Banking Federation EFAMA Insurance Europe AMICE Mutuals European Association of Public Banks (EAPB) Bipar WSBI-ESBG European Forum of Securities Associations EUSIPA - European Structured Investment Products Association
European Association of Co-operative Banks’ Post
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The International Financial Services Centres Authority IFSCA Official has issued key clarifications on investment restrictions for retail schemes operating in IFSCs under the Fund Management Regulations, 2022. These updates, aligned with the Union Budget 2024-25 announcements, aim to attract global investors and foster innovation in the fund management ecosystem. Key highlights include relaxed ceilings on unlisted securities investments for open- and close-ended schemes, enhanced transparency requirements for fund-of-funds structures, and provisions to ensure retail investor protection. These steps are designed to liberalize regulations, promote competition, and position GIFT City as a leading global financial hub for fund management. #IFSCA #GIFTIFSC #RetailSchemes #FundManagement #InvestmentInnovation #GlobalInvestors #EaseOfDoingBusiness #Transparency #IFSCRegulations #IndianEconomy #FinanceTransformation #InvestorProtection #GIFTIFSCLeadership #CapitalMarkets #UnionBudget2024
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Taking place this Thursday, 16 May, join the free FECMA webinar summarising the current proposal on EU Late Payment Regulation and how it can affect the credit profession and business in Europe. #CICM #latepayment
⬇ FECMA webinar: Late Payment EU Regulation ⬇ Pursuing the suggested Late Payment Regulation by the European Commission to combat late payments in Europe and to secure sound cash flow for businesses and the economy at large within the EU, a vote was taken by the European Parliament on Tuesday, 23rd April 2024 with 459 votes in favour, 96 votes against and 54 abstentions. Following the original draft of The Late Payment Regulation by the European Commission, various European stakeholders, constituted bodies and interested parties, reacted to the proposed Regulation and made their position public. Please join FECMA in this free webinar summarizing the current proposal of the regulation. We will also discuss how that impacts the credit profession and businesses in Europe overall. ⏩ register here https://lnkd.in/dNg8KETx SPEAKERS: Reuben Balzan, Josef Busuttil MBA(Henley), Dip M MCIM, FCICM, Nicolas Flouriou 💸, Ludo Theunissen, Robert Dyrcz, PICM #creditmanagement #europe #creditrisk #tradecredit #fecma #ordertocash #riskmanagement #paymentculture #webinarfecma
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#DORA compliance is a key priority for FIA EPTA’s members to which they are dedicating a lot of time and effort. But the scale of the work is massive and firms will need clarity from EU regulators on how to prioritise. More about this important issue in today’s joint industry statement 👇
🔔 Together with five other trade associations, FIA EPTA has co-signed a joint statement about our concerns with the timelines for #DORA compliance. ⏰ #DORA will apply from 25 January 2025 but timely implementation by market participants is challenging due to the complexity and scale of many of the requirements, with some rules still under development. ⚙ Market participants are hard at work on implementation but are facing a huge workload and additonal uncertainty. 🔦 We are therefore asking supervisory authorities to be transparent about their enforcement priorities during the first year of DORA application so that market participants can prioritize accordingly. 🤝 We are also asking for close coordination amongst supervisory authorities to aid implementation efficiency and regulatory certainty. 💪 Given the importance of ensuring robust #digital #operationalresilience, we look forward to working constructively with European Securities and Markets Authority (ESMA), European Banking Authority (EBA) and European Insurance and Occupational Pensions Authority (EIOPA) to address these industry concerns. Great cooperation on this important issue with Association of Foreign Banks (AFB), AFME (Association for Financial Markets in Europe), American Chamber of Commerce to the European Union (AmCham EU), European Payment Institutions Federation (EPIF) and FIA, Inc.
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A new report from EFAMA, Federation of European Securities Exchanges, European Banking Federation and Oliver Wyman outlines an ambitious roadmap to improve the competitiveness of capital markets in Europe through a combination of retail investment, financial incentives, tax breaks and education. "Now is the time for decisive action," says Tanguy van de WERVE of EFAMA. #markets #trading #liquidity #CMU #capitalmarkets #europe #marketstructure
“Game-changing reforms” needed to fix Europe’s capital markets, say European associations
https://www.globaltrading.net
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Today EFAMA have published a joint statement aimed at co-legislators to reassess the Retail Investment Strategy (RIS), focusing on the competitiveness of the regime and its initial goal of increasing retail participation within the EU. The Finance Sector urges EU Policymakers to focus on 3 key areas during the upcoming trilogue negotiations in January 2025: ➡️ Simplification for firms and retail investors. ➡️ Streamlined sales processes for retail investors. ➡️ Reduction of information overload. EFAMA's full statement can be accessed here: https://lnkd.in/ecyh-25x #EPlenary #HU24EU #assetmanagementinsight #PRIIPs #RegulatoryReporting #europeaninvestment
The finance sector calls for co-legislators to reassess the #RetailInvestmentStrategy in light of the European Commission's competitiveness goals Europe’s asset management, insurance and banking industries have published a statement, warning that overly complex rules and red-tape risk undermining the impact of the EU’s Retail Investment Strategy (#RIS). They argue that the current draft proposals contradict the EU’s commitment to reduce regulatory burden which will hold back the broader goal of increasing European #competitiveness. The industries support the goals of the package, namely, to increase retail investors’ confidence and encourage investment in the capital markets. The statement published today, however, calls for the simplification of rules for firms and retail investors, streamlined sales processes and a reduction of information overload. The statement was issued ahead of the EU interinstitutional negotiations between the European Parliament, Council and Commission on the retail investment strategy, which are planned to begin in January 2025. The statement was co-signed by the European Banking Federation, EFAMA, Insurance Europe, AMICE Mutuals, BIPAR, the Conference of EU Bancassureurs CEB, European Association of Co-operative Banks, European Association of Public Banks (EAPB), European Forum of Securities Associations, WSBI-ESBG and the EUSIPA - European Structured Investment Products Association. #EPlenary #HU24EU
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A new report from EFAMA, Federation of European Securities Exchanges, European Banking Federation and Oliver Wyman outlines an ambitious roadmap to improve the competitiveness of capital markets in Europe through a combination of retail investment, financial incentives, tax breaks and education. "Now is the time for decisive action," says Tanguy van de WERVE of EFAMA. #markets #trading #liquidity #CMU #capitalmarkets #europe #marketstructure
“Game-changing reforms” needed to fix Europe’s capital markets, say European associations
https://www.globaltrading.net
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Great opportunity to discuss sustainability reporting with the banking advisory panel, and accros panels with members of the insurance and capital markets advisory panels. With the end goal to achieve sector standards that result in userful information, that are truly sector specific, and leverage the existing ESRS and build on emerging best practice. #EFRAG, #ESG, #ESRS #Banking
The EFRAG Sustainability Reporting Financial Institutions Advisory Panels are taking place for the first time in presence in Brussels 📈. The EFRAG SR Banking Advisory Panel, EFRAG SR Capital Markets Advisory Panel and the EFRAG SR Insurance Advisory Panel have dedicated significant effort in recent months to advance future standards. Today, we took the opportunity to recognise the progress made and to reflect on the challenges that lie ahead. We look forward to continuing this vital work together! More info about the EFRAG SR FIAPs ▶️ https://lnkd.in/ef-a3CHH 📢Today also marks the deadline for submitting applications for civil society and impact investors experts to join the EFRAG SR FIAPs ▶️ https://lnkd.in/e-SvCUeh Thanks to the European Banking Federation for hosting our meeting today! #EFRAG #FIAPs #SustainabilityReporting #FinancialInstitutions #ESRS #CorporateReporting
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Leading the Way in Clearing & Settlement as Head of Department (Associate Manager) at India International Clearing Corporation IFSC Limited - GIFT City
📢 New Circular Issued by IFSCA on Investment Restrictions for Retail Schemes in IFSCs The International Financial Services Centres Authority (IFSCA) has released a circular to provide key clarifications regarding investment restrictions for retail schemes established in IFSCs. These clarifications, stemming from the 2022 Fund Management Regulations and recent Union Budget 2024-25 updates, aim to foster a robust ecosystem for retail schemes in IFSCs. Key Highlights: 1️⃣ Investment Flexibility: Retail schemes investing in open-ended, unlisted securities regulated by home jurisdictions can now bypass certain investment ceilings, such as: 15% AUM cap on unlisted securities for open-ended schemes. Minimum $10,000 investment requirement for close-ended schemes with >15% AUM in unlisted securities. 50% AUM cap on unlisted securities for close-ended schemes. 25% AUM investment limit in associate entities. 2️⃣ Enhanced Transparency: Fund Management Entities (FMEs) offering fund-of-funds retail schemes must disclose the underlying schemes and any association with their managers in the offer document. This circular, effective immediately, is a step forward to streamline and simplify investment operations for retail schemes in IFSCs, bolstering transparency and supporting growth. #IFSCA #IFSC #Investment #FundManagement #RetailSchemes #CircularUpdate #FinancialServices
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🛡️ ESMA and EIOPA challenge policymakers to deliver a streamlined, consumer-focused Retail Investment Strategy (RIS). 📢 As the RIS negotiations advance, ESMA and EIOPA have issued a clear call to action, urging the European Commission, Parliament, and Council to ensure that RIS truly serves European retail investors and strengthens cross-border capital markets. Here’s where the focus lies: 1️⃣ A Pan-European Long-Term Savings Product ESMA and EIOPA advocate for the creation of a cross-border investment and pension product, addressing a gap in the current framework to mobilise retail capital efficiently. 2️⃣ Online Comparison Tool They support the Parliament's push for an unbiased tool that empowers investors by providing clear, comparable information on costs, guarantees, and performance across investment products. 3️⃣ Value for Money Backing the Commission's vision, they emphasise the need for transparent European benchmarks while cautioning against Parliament's proposal to introduce national benchmarks or a non-public database, which risks adding complexity and diluting impact. 4️⃣ Cross-Border Business Concerns There are strong warnings about the Council's amendments potentially creating additional hurdles for cross-border collaboration, undermining the Capital Markets Union. 5️⃣ Resource Implications Highlighting the strain on resources, they urge policymakers to properly assess the administrative and supervisory costs linked to the RIS amendments, ensuring they are realistic and manageable. 💼 Should you need assistance with these regulatory topics or other compliance requirements, feel free to reach out. #assetmanagement #RIS #ESMA #EFAMA #FundIndustry #PRIIPS Benjamin Collette I Bastien Collette I Alice Lehnert, CAMS I Florence Buron I Farah El Messiri I Khadija Bartali Ghazzale I Palana I Avanterra
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🚀 The Future of the Capital Markets Union (CMU) and the Savings and Investment Union (SIU) 🚀 The European Association of Cooperative Banks (EACB) is actively engaging in discussions about the evolution of Europe’s capital markets. Since its launch in 2016, the Capital Markets Union (CMU) has been a critical part of the EU’s strategy to enhance cross-border capital flows, but progress has been slow compared to other global markets. As Europe’s financial markets need a boost, the EACB welcomes the idea of a comprehensive Savings and Investment Union (SIU) that can attract investment, empower citizens, and support local economies. Here are the EACB key recommendations for shaping stronger, more liquid EU financial markets: 🔹 Focus on investor demand side 🔹 Optimizing existing tools like the European Long-Term Investment Fund (ELTIF) 🔹 Promoting financial education to boost market participation and financial inclusion 🔹 Simplifying the regulatory framework – less is more 🔹 Balancing investor protection with a focus on simplicity 🔹 Aligning initiatives to complement bank financing for local economies 🔹 Improving the securitization framework and exploring new instruments like the European Secured Note (ESN) 🔹 Boosting equity finance 🔹 Tackling tax-related barriers 🔹 Enhancing access to long-term investment instruments 🔹 Leveraging EU guarantees to support European financing Read our full position paper to learn more about our recommendations and how we can collectively build a stronger financial future for Europe. 🔗 https://lnkd.in/exXmgeYh #CapitalMarketsUnion #SavingsAndInvestmentUnion #FinancialInclusion #EACB #FinancialMarkets #coopbanks #EconomicGrowth
EACB inputs on the Future of the Capital Markets Union (CMU) under Savings and Investments Union (SIU)
eacb.coop
