European Forum of Securities Associations

EFSA, the forum of European Securities Associations for information sharing and fostering mutual understanding hosted its first public event in Brussels today in order to contribute to the political debate on the importance of capital markets for private savings and investment as well as for the financing of the real economy and the significant future finanancing needs of the EU. EFSA thanks Christian Noyer, former Head of Banque de France for an excellent keynote as well as Annemie Rombouts, Deputy Chair of the Belgian FSMA, Irene Tinalgi, Member of the European Parliament, Jan Ceyssens, Head of the „Capital Markets Union“ Unit at the European Commission, Stéphane Giordano, Chairman of AMAFI, Grzegorz Zawada, Head of Investment Banking Devision in PKO BP for a very vivid and thought provoking panel discussion and not to forget Stéphanie Hubert of AMAFI and Urban Funered of SSMA for moderating the event.

24 October 2024 The European Forum of Securities Associations (EFSA) points out the key messages regarding the Retail Investment Strategy (RIS) for the Trilogue negotiations

EFSA is a forum of European Securities Associations for information sharing and fostering mutual understanding. EFSA itself is not a legal entity but a self-organising working-group. As such, it also helps to deliver joint messages on policy issues in European securities markets to policy makers, regulators, industry representatives and the interested public who we hope might benefit from such a coordinated approach. EFSA complements the existing activities of its member-associations.

October 16, 2024 EFSA comments on the ESMA Consultation Paper Technical "Standards specifying the criteria for establishing and assessing the effectiveness of investment firms’ order execution policies". 

October 9, 2024 EFSA members, together with AFME, EFAMA and the Nordic Securities Associations, have published a statement on the planned changes to cost-based market data as part of the MiFiR review on 'Reasonable Commercial Basis' (RCB). "How to ensure that market data is available on a truly cost-based approach and thus complies with the new MiFIDIII/MiFIR2?"

EFSA members met in Copenhagen, Denmark, on 16-17 September to exchange views and discuss current developments in the EU's Capital Markets Union and European financial market regulation. Members agreed on common positions and necessary actions on key issues. We thank the Danish association (Capital Market Denmark - CMD) for hosting the meeting.