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Dear All,

 

ICMA/AMIC activities

AMIC published its latest Review on Tuesday 26 November featuring articles on Fund Liquidity, effect of negative interest rates on the asset management sector, Capital Markets Union and FinTech. 
 
ICMA published on Tuesday 26 November an impact study of CSDR mandatory buy-ins on the corporate bond markets.
 
AMIC held its bi-annual conference on Wednesday 27 November featuring a keynote speech by Fabrice Demarigny, Chair of the Next CMU High-Level Expert Group, and panels on STS securitisation, PEPP and, pension funding gap, and sustainable labels for funds.  
 
AMIC Executive Committee met on Thursday 28 November, with an agenda which included a discussion with Nick Miller, Head of the Asset Management Supervision Department at the FCA .


Upcoming ICMA Courses

 30-31 March: Collateral Management
        2-3 April: Securitisation - An Introduction
 

 

 

Pension
 
  • (27.11.2019) OECD issues report on strengthening pension systems to adapt to a changing world of work

The Organisation for Economic Co-operation and Development (OECD) has issued a report on strengthening pension systems to adapt to a changing world of work.

The report advises that governments should urgently reform their pension systems to ensure that the growing share of workers in temporary or part-time employment can contribute enough during their working lives to receive an adequate income in retirement.

MiFID II/EMIR
 
  • (27.11.2019) ESMA publishes responses to consultation on aligning MiFIR to the changes introduced by EMIR Refit

The European Securities and Markets Authority (ESMA) has published the responses it received to its consultation on aligning the Markets in Financial Instruments Regulation (MiFIR) requirements to the changes introduced by the revision of the European Market Infrastructure Regulation (EMIR Refit). 

Financial Stability
 
  • (28.11.2019) ESMA sees continued high market risk amid deteriorating economic fundamentals

The European Securities and Markets Authority (ESMA) has published its latest risk dashboard for the European Union's securities markets, covering the third quarter of 2019.

Statistics
 
  • (28.11.2019) ALFI publishes the results of three surveys

The Association of the Luxembourg Fund Industry (ALFI) has published the results of three surveys on the occasion of the ALFI PE & RE Conference 2019 in Luxembourg on 26 and 27 November which revealed a continued growth in alternative investment funds in the Grand Duchy.

IFRS and CMU
 
  • (28.11.2019) Speech by Steven Maijoor (ESMA) on assessing the role of IFRS in building stronger European Capital Markets

Speech by Steven Maijoor, Chairman of the European Securities and Markets Authority (ESMA), on assessing the role of IFRS in building stronger European Capital Markets.
 

Sustainablity
 

  • (27.11./2019) Speech by President-elect Ursula von der Leyen 

Speech by Ursula von der Leyen, President-elect of the European Commission, on the occasion of the presentation of her College of Commissioners and on what the new Commission is planning to achieve. She confirmed that the “European Union will mainstream climate financing throughout its budget, but also throughout capital markets and the entire investment chain.”
 
  • (27.11.2019) ECB publishes article on Finance and decarbonisation: why equity markets do it better

The European Central Bank has published an article on the evidence that economies receiving more funding from stock markets than credit markets generate less carbon. Increasing the equity financing share to one-half globally would reduce aggregate per capita carbon emissions by about one-quarter of the Paris Agreement commitment.
 
  • (28.11.2019) European Parliament declare climate emergency

The European Parliament has adopted a resolution on declaring a climate and environmental emergency.

The resolution states that:
- Commission must ensure all proposals are aligned with 1.5 degree Celsius target
- EU should cut emissions by 55% by 2030 to become climate neutral by 2050
- Calls to reduce global emissions from shipping and aviation
 
  • (28.11.2019) Commission publishes recommendations on how to transform the EU's energy-intensive industries
The Commission has published recommendations by a group of experts on how to transform the EU's energy-intensive industries so they help reach EU-wide objectives for a circular and climate-neutral economy by 2050. These objectives were put forward in the Commission's A Clean Planet for All strategy in November 2018.
 

In particular, the recommendations highlight key success factors under three main priorities:

- Creating markets for climate-neutral and circular products
- Developing large-scale pilot projects on clean technologies
- Switching to alternative climate-neutral energy and feedstock sources

Kind regards,

 

The AMIC Secretariat

 

Email: amic@icmagroup.org

Tel: +44 20 7213 0348

Website: www.icmagroup.org/amic

 

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