UK failing to protect compromised finance sector
The UKs finance industry has been compromised in numerous ways by EU reforms, and has not done enough to protect its national interests, the Wealth Management Association (WMA) has said.
Mifid
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MiFID II still worrying UK wealth managers
UK wealth managers remain concerned about the high compliance costs associated with MiFID II and its incompatibility with the traditional structure of UK non-bank wealth managers, says Jonathan Sokhanvari, COO at Multrees.
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Better regulation not more regulation
European advisory trade association FECIF has set out its four main goals for the coming months: continue lobbying, identifying key MEPs, collating data on the market and boosting its membership where possible.
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Carmignac slams MiFID over jeopardising
Edouard Carmignac has said the plans to ban rebates to independent financial advisers proposed in the Markets in Financial Instruments Directive (MiFID) will put Europes open architecture distribution model in serious jeopardy.
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WMA doubts RDRs future in a MiFID worlsd
The Wealth Management Association (WMA) has cast further doubt on whether the UK’s Retail Distribution Review (RDR)and the upcoming Markets in Financial Directive (MiFID II) will be able to coexist, as it attempts to cope with the latter’s “horrendous” consultation period.
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IFAs face limited product choice in Europe
Advisers in Europe are being forced to offer clients a limited choice of products because many life companies have exited the region to seek more profitable and less heavily regulated markets further east.
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Eradicate useless over regulation in the EU FECIF
The honorary chairman of FECIF has called for “creative effort” and “active participation” across Europe to eradicate “useless over regulation” in the EU.
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Cyprus fund association admitted into EFAMA
The Cyprus Investment Funds Association (CIFA) has become a member of EFAMA following a “rigorous assessment” of Cyprus’s fund management framework.
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EFAMA says industry wants more time for MiFID II
The director general of EFAMA has said the financial industry feels ‘rushed’ into implementing MiFID II following a discussion on EU regulatory initiatives at the group’s annual general meeting.
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MiFID II in sight after entry into EU Journal
MiFID II, the European legislation aimed at improving financial transparency, is to come into force on 2 July after being published in the Official Journal of the EU today.
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Belgium reacts swiftly to MiFID II ruling
MiFID II, arguably one of the most far-reaching pieces of financial legislation to hit European shores in recent decades, is already beginning to have a direct impact in some corners of the Continent.
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ESMA prepares for MiFID II implementation
The European Securities and Markets Authority (ESMA) has begun a consultation process to look at how best to implement the revised Markets in Financial Instruments Directive (MiFID II).