Although regulators, notably the European Securities and Markets Authority (Esma), have been calling for input from market participants on new regulations, president of the European Fund and Asset Managers Association (Efama), Christian Dargnat, is pessimistic about how much influence the asset management industry really commands.
Esma has allowed two months for replies from the industry to its 820-page consultation paper on Markets in Financial Instruments Directive (Mifid) II, giving a deadline of August 1.
“I would like to know how all the feedback from corporates and associations can be analysed in such a way that at least some industry ideas can be taken into consideration,” said Dargnat, speaking to Global Investor/ISF.
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