As the von der Leyen Commission reflects on how to strengthen market finance in Europe, global markets are moving on.
The Mifid II rules are leading to broader participation in capital markets by Europe’s savers.
Not much is left of the Personal European Pension Product (PEPP) as intended by the European Commission in June 2017.
One year on, MiFID II is working and firms have adapted to the burdensome new set of rules.
In the aftermath of the 2007-09 global financial crisis, regulators in all major jurisdictions introduced significant new requirements for financial firms.
The PEPP is well on the way to becoming an attractive EU-wide savings vehicle, provided the different funds achieve a minimum size.
The reason why an international approach, and not just a national or regional one, is necessary for recovery and resolution is clear: many CCPs are globally systemic, in that the
CMU features an extreme heterogeneity of i) market players (issuers, intermediaries, infrastructures, service providers) and ii) products, and a ‘variable geometry’ of their Euro
Despite recent advances made in eliminating fragmentation and standardising fees and performance across the European market for retail investment products, these have produced li
Asset managers face new regulatory and supervisory pressures, which may fundamentally affect their business models.
Possibly facilitated by the perspective of Brexit, the European Commission has proposed, for the first time, a truly proportional regime in its new prudential framework for inves
Growing demand in recent years for low-cost, easily tradeable, liquid and transparent investment products, resulted in the global expansion of the Exchange-Traded Fund (ETF) indu
