Presenting the European Commission’s State of the Union 2017 address, president Jean-Claude Juncker reiterated the objective of making the euro the single currency of all EU member states, as he commented on the state of economic and monetary union. The statement – printed on supporting documents published by the Commission: emu-today-factsheet_en – said: “If we want the […]
The European Securities and Markets Authority (Esma) has warned that investors face significant risks around asset price valuations because of factors such as financial weakness and geopolitical uncertainty. The warning comes in its report Trends, Risks and Vulnerabilities No. 2, 2017 (TRV), which outlines expectations for the second half of 2017. Another concern is cybersecurity. […]
Robert Jeanbart is division CEO SIX Financial Information. With 10 weeks to go before PRIIPs is slated to enter in force, the financial industry must continue with compliance preparations in the face of uncertainty about the implementation timetable. While recent votes by the European Parliament raised the possibility of postponement, the regulation has so far […]
The investment and financial services industry has almost universally supported the rejection by the European Parliament of the draft regulatory technical standards (RTS), aiming to provide a framework to packaged retail investment and insurance-based products (PRIIPs). As reported yesterday, the draft regulation, which has faced criticisms across Europe, was rejected by MEPs as it was […]
Draft regulatory technical standards aiming to provide a framework to packaged retail investment and insurance-based products (Priips) have been rejected by the members of the European Parliament. The draft regulation, which has faced several critics across Europe, has been considered by MEPs so “flawed and misleading” it could make retail investors losing money instead of protecting them. Priips’ RTS have […]
Technical standards that have been widely-criticised across Europe relating to Packaged Retail and Insurance Based Investment Products (PRIIPS) have been rejected today following a vote by the European Parliament’s economics committee. The committee has this afternoon voted down the measures relating to PRIIPS such as investment funds, insurance products and derivatives. The European Commission had proposed Regulatory […]
The French asset management association (AFG) has announced in its magazine Gestion Info the appointment of Christophe Laurentie as new secretary-general, replacing Pierre-Yves Berthon. In 2008, Laurentie founded L’Oxygène des Dirigeants, a consulting company with a focus on small and medium enterprises in France. He also worked eight years as chief financial officer and company secretary […]
Guy Verhofstadt, former prime minister of Belgium, leader of the group of Liberals and Democrats in the European Parliament, and a previous candidate for the presidency of the European Commission, will deliver they keynote at this year’s Spring Pan-European Fund Selector Summit taking place in Lausanne 28-30 April. Verhofstadt was prime minister of Belgium for […]
The European Fund and Asset Management Association (Efama) has expressed its support for the political agreement on European Long-term Investment Funds (Eltifs) reached on 26th of November. The agreement was negotiated between the European Council and Commission and was subsequently endorsed by the European Parliament. “On the very day that European Commission President Jean-Claude Juncker […]
The European Parliament (EP) has voted to approve the Juncker Commission with 423 out of 699 voting in favour, 209 against and 67 abstaining, the newly appointed European Commission will take office next month. The initial nominations proposed by Junker received mixed responses, leading to a reshuffle of some appointments and repeated cross-examinations of individual […]
Martin Harvey, fixed income manager at Threadneedle, comments on the impact of the elections for the European Parliament.
The European Parliament’s decision to cap bankers’ bonuses so they can be no larger than base pay has today been widely criticised by experts in the industry.