IMA: new markets and investor protection legislation will lead to improved industry practices
The Investment Management Association (IMA) is broadly positive about the agreements on MiFIR/D II, the PRIIP KIID and UCITS V voted through in the European Parliament last night, which deliver significant improvements to current practice that are in the interests of investors.
However, whilst the final text of MiFIR/D II will allow improved market stability, it is doubtful whether it will ensure efficiency and free and fair competition.
The IMA’s regulatory affairs team is available for comment today on specific elements of the legislation, including:
• Volume cap on off-exchange trading (dark pools)
• Pre-trade transparency requirements for the bond market
• PRIIP KIID – consistent disclosure and information across non-UCITS funds, insurance-based investment products and structured products
• UCITS V – consistent investor protection standards across Europe for UCITS depositaries
