Speakers
Chair
Gabriela Figueiredo Dias
Chairperson - Portuguese Securities Market Commission (CMVM)
Public Authorities
Ugo Bassi
Director, Financial Markets, DG FISMA - European Commission
Natasha Cazenave
Managing Director, Head of Policy and International Affairs - Autorité des Marchés Financiers (AMF)
Verena Ross
Executive Director - European Securities and Markets Authority (ESMA)
Laurent Van Burik
Head of Division of Legal and International - Commission de Surveillance du Secteur Financier (CSSF)
Industry Representatives
Christian A. Edelmann
Co-Head of EMEA Financial Services - Oliver Wyman
Thomas Schindler
Global General Counsel - Allianz Global Investors GmbH
Objectives
This session will focus on the on-going reviews of the AIFMD and ELTIF legislations, mainly from a CMU perspective.
The discussion will center on the main priorities for enhancing the effectiveness of these legislations and their capacity to channel funding to the EU economy and provide appropriate investment opportunities, taking into account the proposals made by the Commission and the industry in the context of the on-going review processes. The extent of the changes that may be needed to the legislative texts will also be assessed, as well as improvements that may be needed in the supervisory approach.
Points of discussion
- AIFMD review: What are the key issues that need to be addressed for improving the capacity of the AIFMD to support the CMU and the financing of the EU economy? Should AIFMD requirements be adjusted to make AIFs more accessible to retail investors? Do rules need to be clarified or adjusted in AIFMD concerning the delegation of fund activities? What is the extent of the changes that are needed in the directive and how to implement them? Is further harmonisation of the AIFMD and UCITS directives needed?
- ELTIF review: What are the main obstacles to the uptake of ELTIFs and how to address them? Are the measures envisaged in the ELTIF review likely to position ELTIFs as a significant source of long-term non-banking finance in the future and a key enabler of the CMU? What are the priorities for achieving this objective and what are the conditions of success?