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ESMA publishes statistical data on 2014 prospectus activity in EEA
July 23, 2015--The European Securities and Markets Authority (ESMA) has published its periodic report on statistical data regarding prospectus activity within the EEA, covering 2014.
The report has been expanded compared to previous versions and contains more detailed information on, among other topics, the structure and content of prospectuses approved during 2014.
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Source: ESMA
Guidelines on sound remuneration policies under the UCITS Directive and AIFMD
July 23, 2015--Summary
Reasons for publication
Article 14a(4) of Directive 2009/65/EC ("UCITS Directive"), as amended by Directive 2014/91/EU ("UCITS V Directive") provides that ESMA shall issue guidelines addressed to competent authorities or financial market participants concerning the application of the remuneration principles set out under Article 14b of the UCITS Directive ("UCITS Remuneration Guidelines").
This consultation paper represents the first step in the development of the guidelines on remuneration policies required by the UCITS V Directive and sets out ESMA's formal proposals for these guidelines.
view the Consultation Paper Guidelines on sound remuneration policies under the UCITS Directive and AIFMD
Source: ESMA
Boost US Large Cap ETPs to Track S&P 500 Index
July 23, 2015-Boost, Europe's specialist Short and Leverage (S&L) Exchange Traded Products provider, is changing the underlying index of its ETPs giving exposure to US large cap equities, from the Russell 1000 index to the S&P 500(R)<
Boost ETPs tracking US equity indices now total $56m in notional assets, up 28% in July
Trading volumes of Boost's ETPs reached a new high last month, with total notional trading volume exceeding $3bn Boost offers 67 ETPs which track the main benchmarks in equities, fixed income, currencies, and commodities, including a range of non-leveraged Exchange Traded Commodities
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Source: Boost
European Commission-Fact Sheet-The Investment Plan for Europe: Q&A
July 22, 2015--1.What is the Investment Plan for Europe? Why do we need it?
Since the global economic and financial crisis, the EU has been suffering from low levels of investment. Collective and coordinated efforts at European level are needed to reverse this downward trend and put Europe firmly on the path of economic recovery, which is the top priority of the Juncker Commission.
Compared to the 2007 peak, investments have dropped by around 15% in the EU.
In the short term, weak investment slows economic recovery. In the longer term, the lack of investment hurts growth and competitiveness. Weak investment in the euro area has a considerable impact on the capital stock, which in turn holds back Europe's growth potential, productivity, employment levels and job creation.
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Source: European Commission
Euro Area Investment Fund Statistics May 2015
July 21, 2015--In May 2015, the amount outstanding of shares/units issued by euro area investment funds other than
money market funds was €106 billion higher than in April 2015.
This increase was due mainly to net
issues of shares/units,
The amount outstanding of shares/units issued by euro area investment funds other than money market funds increased to €9,545 billion in May 2015, from €9,439 billion in April 2015. Over the same period, the amount outstanding of shares/units issued by euro area money market funds decreased to €1,009 billion, from €1,016 billion.
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Source: ECB
Standard & Poor's upgrades Greece
July 21, 2015--Ratings firm Standard & Poor's on Tuesday lifted Greece's credit rating by two notches, citing the three-year loan program and EUR7.16 billion ($7.84 billion) in three-month bridge financing secured, in principle, last week.
S&P said the ratings increase for Greece is based on "our view that its default on its stock of commercial debt is no longer inevitable" in the next six months to a year.
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Source: MarketWatch
ESMA publishes updates to Q&As on the application of the AIFMD
July 21, 2015--The European Securities and Markets Authority (ESMA) publishes updated questions and answers on the application of the AIFMD.
The Q&A includes updated and new questions and answers on reporting to national authorities and the calculation of the total value of AUM.
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Source: ESMA
UK's Osborne says no plans to loosen banks' ring-fence
July 21, 2015--British finance minister George Osborne said on Tuesday that he did not intend to allow a looser implementation of rules separating British banks' retail and investment banking operations.
Osborne's commitment to tough banking regulation has been questioned since he decided last week not to renew the contract of the chief executive of the country's Financial Conduct Authority, Martin Wheatley.
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Source: Reuters
ESMA agrees to further renewal of short selling ban by Greek HCMC
July 20, 2015--The European Securities and Markets Authority (ESMA) has issued its official opinion agreeing to a further renewal, for a period of seven days, of the emergency short selling prohibition originally imposed by the Hellenic Capital Market Commission (HCMC) under the Short Selling Regulation on Monday 13 July.
The ban will take effect at 00:00:01 hours (CET) 21 July 2015 and remain in place until 24:00:00 (CET) on 27 July 2015 and temporarily prohibits transactions in any financial instrument that creates, or increases, a net short position on any of the shares admitted to trading on the Athens Exchange and Multilateral Trading Facility "EN.A".
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Source: ESMA
Commodity Rout Worsens as Prices Tumble to Lowest Since 2002
July 19, 2015--The rout in commodities deepened with prices touching the lowest since 2002 as the prospect of higher U.S. interest rates sent gold tumbling.
Raw materials are losing favor with investors as the dollar gains amid signals from Federal Reserve Chair Janet Yellen that the central bank may raise rates this year on the back of an improving U.S. economy.
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Source: Bloomberg
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