Position papers

Input to the European Commission on its Proposal for a Regulation on European Crowdfunding Service Providers (ECSP) for Business

Created: Thursday, 10 May 2018 14:45

FESE fully supports the Commission’s objective of increasing the harmonisation of crowdfunding activity and reviewing potential barriers to cross-border transactions, both initiatives which could help to bolster an important source of capital for early-stage companies.

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Response to the ESMA Consultation Paper on draft RTS under the new Prospectus Regulation

Created: Friday, 09 March 2018 13:47

FESE members believes that, in order to be successful, the review of the Prospectus rules should significantly reduce burdens for companies, and ensure that rules are aligned with the existing framework and not duplicated.

In particular, we would recommend retaining flexibility for companies as this would allow them to better highlight to investors their distinct characteristics and features.

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Position on the Review of the Prudential Framework for Investment Firms

Created: Thursday, 08 March 2018 10:41

We welcome the underlying objective followed in the Commission’s legislative proposals on designing a new prudential regime for investment firms, i.e. to categorise investment firms into three classes based on the risks they pose and to attach different capital and prudential requirements to the respective classes. However, we have strong concerns regarding the potential impact of the proposals on market makers and liquidity providers,

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Response to EC's Consultation: Building a Proportionate Regulatory Environment to Support SME Listing'

Created: Tuesday, 27 February 2018 14:28

We fully support the European Commission’s commitment to deliver a more conducive regulatory environment to support SME initial public offerings and

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Response to ESMA consultation on Product Intervention Powers (CFDs and Binary Options)

Created: Monday, 05 February 2018 13:37

FESE generally agrees with the elements proposed by ESMA to identify CFDs and binary options. However, we would like to point out that the definitions, in particular in the case of CFDs, are quite broad and could unwittingly capture financial instruments which ESMA did not intend to subject to additional investor protection measures.

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