Brexit: to relocate or not to relocate
UK-based asset managers may have to shift operations to the EU 27 if a transition agreement is not agreed, and Esma is pushing hard to ensure regulatory convergence across the bloc regarding moves.
ESMA
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ANALYSIS: Fund fees wipe out ‘20% of gross returns’
The European Securities and Markets Authority (Esma) is turning up the heat on asset managers, highlighting the impact of fund charges on returns in a fresh report. Fund fees wipe out an average 20% of gross returns, according to the regulator.
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Europe’s fund industry facing dispersal as Brexit looms
Whatever the outcome of the Brexit process now under way, the shape of the asset management industry in Europe is set to change substantially, a report by the CFA Institute has found.
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EU warns regulators to prevent ‘letter box’ investment firms
A European watchdog has urged a crackdown on investment firms setting up ‘letter box’ entities across the continent in the wake of the Brexit vote.
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Fees on European funds ‘must come down’, warns regulator
Asset managers in Europe must reduce the cost of their products, Steven Maijoor, chair of the European Markets and Securities Authority (Esma) has warned.
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Better Finance group names and shames ‘closet trackers’
Campaign group Better Finance has published the names of asset managers running so-called closet trackers: funds that closely hug an index. Some large asset managers are particularly well-represented on the list.
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Esma sees risks building up for EU securities markets
The European Securities and Markets Authority (Esma) considers market and credit risk in Europe’s equity and bond markets ‘very high’, it said in its latest risk outlook. It noted Brexit may increase risks further along the line.
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‘ESMA underestimates closet tracker problem’
The European Securities and Markets Authority’s (Esma) investigation into funds marketing themselves as active but in reality are passive, or ‘closet trackers’, underestimates the extent of the problem, according to UK investment boutique SCM Direct.
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Up to 15% of Ucits equity funds are index huggers, says Esma
Between 5 and 15% of active Ucits equity funds could be index huggers, the European financial services regulator Esma has concluded after it analysed the performance of a set of 2600 of such funds compared to their benchmarks, for the period 2012-2014. This is strong enough evidence for the regulator to take further action, said…
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One year Mifid II delay might not be enough, says Esma chief
Delaying the implementation of Mifid II until January 2018 still might not give enough time for the European Securities and Markets Authority (Esma), national regulators, and market participants to make the necessary IT changes, says Esma chair Steven Maijoor.
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Europe’s regulators turn their sights on robo-advisers
European regulators have announced plans to investigate the increasing use of ‘robo-advice’ in the financial services industry in order to work out what action may be needed to control its growing use.