Position papers

Joint Proposal on the Prospectus Regulation Level II Measures

Created: Friday, 07 July 2017 08:52

The co-signing organisations welcome the launch of the ESMA consultation on the Level II measures for Prospectus Regulation.

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Response to Commission Consultation on Fintech

Created: Friday, 16 June 2017 07:39

FESE considers that FinTech can be an important driver to expand access to financial services for consumers, investors and companies, bringing greater choice and more user-friendly services, often at lower prices. New financial technologies can help individuals as well as small and medium-sized enterprises, including start-up and scale-up companies, to access alternative funding sources for supporting their cash flow and risk capital needs.

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Response to Commission Consultation on European Supervisory Authorities

Created: Tuesday, 23 May 2017 09:02

FESE has primarily worked with ESMA as they are the ESA focused on financial markets issues and are comprised of the National Competent Authorities that supervise exchanges. Overall, our view of the working of ESMA is quite positive, however, given their increased workload and the impending application of new markets regulation such as MiFID II / MiFIR, we consider that this review is timely in order to ensure that ESMA can fulfil its function properly.

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Response to the European Commission ‘Capital Markets Union Mid-Term Review'

Created: Thursday, 23 March 2017 15:14

The Response to the European Commission Consultation Document 'Capital Markets Union Mid-Term Review' is available here.

Response to ESMA Consultation on Package Transactions

Created: Tuesday, 03 January 2017 11:55

In its response, FESE argues that the proposal by ESMA would result in a more restrictive pre-trade transparency regime for package orders than for individual transactions. The proposed approach would result in the vast majority of exchange traded derivatives packages being determined as liquid, meaning the waiver could not be applied to them. Furthermore, the proposed methodology concentrates on characteristics of individual components of the package rather than assessing the package as a whole.

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