Past Events
The asset management industry has become the object of intense regulatory action in the past five years, with three objectives: safeguard financial stability, stimulate market-based finance and improve investor protection. The European Commission has been at the centre of this process, which it strives to complete before its current mandate ends.
The excesses of the sub-prime crisis highlighted the dangers of the originate-to-distribute model and led to the dry-up of most securitisation markets in Europe. However, in converting illiquid pools of assets into securities that can be purchased by investors in capital markets, securitisation can play an important role in the long-term financing of industrial and infrastructure projects, as well as SMEs.
Incessant innovation in the financial marketplace and new technological developments have increased the degree of sophistication of trading activities and so the ability of 'villains' to pursue abusive practices.
With over 400 participants, the 2012 ECMI Annual Conference brought together international experts in capital markets from industry, policy making and academia for a full day of discussion in Brussels.
Financial market infrastructures are key promoters of competitiveness and market efficiency. Business models are currently striving to gather the best in-house technological expertise to minimise technological glitches under highly volatile market conditions and confront sweeping changes from upcoming regulatory overhaul in MiFID and EMIR.
Europe needs to look beyond the current legislative proposals to better protect investors. Beyond banning inducements for some advisers, regulation should address the incentives built into the remuneration of all sales personnel.