Brussels, 10 September 2024 – Press Release The European Union (EU) stands at a pivotal moment in its financial strategy, with two key reports providing new insights into unlocking the economic potential of mobilising €33.5 trillion in household savings. Former Italian Prime Ministers Enrico Letta and Mario Draghi have both presented crucial perspectives on how
In light of the MiFIR/MiFID II review (which entered into force on 28 March 2024, with transposition deadlines for MiFID II amendments set for 29 September 2025), this consultation package no 2 addresses significant changes aimed at establishing a framework for Consolidated Tape Providers (CTPs) and Data Reporting Service Providers (DRSPs). ESMA focuses on the Regulatory Technical Standards
Brussels, 20 August 2024 – Press Release Talgo’s minority shareholders are actively seeking a fair and equitable solution for all stakeholders amidst ongoing developments in the company’s takeover bids. Since March 2024, Ganz-Mavag has put forward a voluntary takeover bid for Talgo, valued at €619 million, offering €5 per share with a 41% premium on
Executive Summary BETTER FINANCE, the European Federation of Investors and Financial Services Users, welcomes the work undertaken by the European Securities and Markets Authority (ESMA) towards reviewing the UCITS Eligible Assets Directive (UCITS EAD). This Directive, which supplements the UCITS framework, was adopted seventeen years ago and has not kept pace with the rapidly changing
Brussels, 8 July 2024 – Press Release Following our response to last week’s announcement of the new composition of the European Securities and Markets Authority’s Securities and Markets Stakeholder Group – “BETTER FINANCE Celebrates Appointments in ESMA’s New SMSG Line-up, Presses for Fair Representation” – BETTER FINANCE is now pleased to inform you that the
Press Release – 26 June 2024 BETTER FINANCE acknowledges the European Securities and Markets Authority’s (ESMA) announcement of the new members appointed to its Securities and Markets Stakeholder Group (SMSG), effective from 1st July 2024. The SMSG will play a crucial role in advising ESMA on policy formulation, technical standards, and regulatory guidelines over the
Press Release – 25 June 2024 European financial supervisors have taken a proactive stance in their Opinion on the assessment of the Sustainable Finance Disclosure Regulation (SFDR), addressing concerns raised by individual investors on its current complexity and potential for greenwashing. The ESAs proposal aims to empower retail investors by advising the Commission to replace
BETTER FINANCE continues to provide input to shareholders’ rights consultations. We had previously highlighted the need for enforcing shareholders’ rights, intermediary’s chain transparency, streamlining of engagement process (such as voting at AGMs), our new insights continue to focus on these aspects, and particularly the impact of costs related to exercising shareholder rights. Key Insights from
BETTER FINANCE supports ESMA’s broad approach to guiding prudential regulation concerning the solicitation of EU clients by third-country firms, which is essential to protect European consumers from non-MICA compliant entities and therefore investor protection safeguards. We welcome that ESMA clarifies that the reverse solicitation exemption is to be considered as a prohibition for third country