Opalesque Industry Update - Irish Funds, the representative body for the cross-border investment funds industry in Ireland, has responded to the European Commission’s ‘call for evidence’ for the EU regulatory framework for financial services, as part of the Action Plan for Capital Markets Union. Irish Funds has highlighted key concerns relating to the EU policy and legislative process which have subjected industry to unrealistically tight deadlines, coupled with delays in the detailed implementing measures and the issuing of accompanying guidance. Irish Funds has called for a period of regulatory stability following the comprehensive changes made to the regulatory framework in recent years and stressed that future changes to EU financial services legislation should only be made in line with an overall cohesive approach to policy making. Commenting on today’s response, Pat Lardner, CEO at Irish Funds, said: “We welcome the Commission’s invitation to review the EU’s regulatory framework for financial services as we believe it is a necessary step to bring a greater coherence, clarity and efficiency to the European funds industry, and crucially to enable the Capital Markets Union project to succeed. We hope our recommendations will be taken into consideration by the Commission in assessing and improving the regulatory framework for financial services.” In order to address issues being encountered and facilitate CMU, Irish Funds has called for a range of measures, including:
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Industry Updates
Irish Funds recommends range of key measures for the European Commission’s Capital Markets Union
Thursday, February 04, 2016
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