Guillaume Prache, Managing Director of BETTER FINANCE, has been recently quoted in the FT discussing the impact and importance of consumer investment regulation, including the Alternative Investment Fund Managers Directive and the Markets in Financial Instruments Directive II:
“Most funds covered are actually retail long-only ones – for example, in France, there are 3,500 domiciled Ucits funds and 8,000 [alternative investment funds], and most of these are long-only retail funds. Despite what one often reads, retail investors are heavily impacted by AIFMD and – as they are less financially literate than professional investors – they need to be protected.”
“Say you want to buy [shares in] Air France… Mifid II gives your broker the duty to search all the exchanges this share is listed on to find you the best price, instead of having a relationship with only one exchange, which is much easier for the broker.”