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Enhanced protection for retail investors: MiFID II and MiFIR
June 30, 2014--Changes are being made to a key piece of European law whose purpose is to protect you when you buy or invest in financial products. The Markets in Financial Instruments Directive (MiFID) is being updated and strengthened in some important areas and will be known as MiFID II.
MiFID is central to the regulation of financial markets in the European Union. It regulates the provision of investment services in financial instruments (such as shares, bonds, derivatives and various structured products) by banks and investment firms, and the operation of traditional stock exchanges and alternative trading venues. One of its core objectives is to ensure a high degree of harmonised protection for investors in financial instruments.
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Source: ESMA
France to set up renminbi clearing system
June 29, 2014--France's central bank has taken the first step towards the creation of a Paris-based renminbi clearing and settlement system.
The bank said on Sunday that it had signed a memorandum of understanding (MoU) with its Chinese counterpart to set up a payments arrangement in the French capital designed to facilitate and promote cross-border renminbi transactions
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Source:FT.com
ESMA-Questions and Answers Application of the AIFMD
June 27, 2014--ESMA has published the Questions and Answers Application of the AIFMD.
view the ESMA Questions and Answers-Application of the AIFMD
Source: ESMA
June 2014: Economic Sentiment down in the euro area, broadly stable in the EU
June 27, 2014--In June the Economic Sentiment Indicator (ESI) decreased in the euro area (by 0.6 points to 102.0), 1 while it remained broadly stable in the EU (-0.1 points at 106.4).
Euro area developments
The relapse of euro area sentiment to its April level means a continuation of the sideways movement observed in recent months. It resulted from a deterioration in industry, construction and, to a lesser extent, consumer confidence. Retail trade confidence remained broadly unchanged, while services confidence booked a slight improvement.
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Source: EUROPA
Business Climate Indicator decreases in June
June 27, 2014--In June 2014 the Business Climate Indicator (BCI) for the euro area decreased by 0.14 points to +0.22.
Managers' evaluation of all five components of the BCI deteriorated. Caution increased in particular with regard to the level of past production, production expectations and overall order books. Export order books and the stocks of finished products were assessed only slightly more negatively.
BlackRock UK awarded RQFII license, precursor to China ETF view more Lyxor plans split ETF ranges in preparation for Tobin tax view more Government issues first Islamic bond
The UK,s first sovereign Sukuk received very strong demand, with orders totalling around £2.3 billion, and allocations have been made to a wide range of investors including sovereign wealth funds, central banks and domestic and international financial institutions. view more
Schroders backs ETF business view more Morgan Stanley introduces smart beta ETF on LSE view more If you are looking for a particuliar article and can not find it, please feel free to contact us
Source: EUROPA
June 27, 2014--BlackRock, the asset manager behind the iShares brand of exchange-traded funds, has been awarded its second Renminbi Qualified Foreign Institutional Investor (RQFII) licence by the China Securities Regulatory Commission (CSRC).
The licence has been awarded to BlackRock's UK registered business, enabling the firm to invest in domestic capital markets in China including the A-Share equity and onshore bond markets.
Source: etfstrategy.co.uk
June 26, 2014--Lyxor Asset Management is preparing to split parts of its exchange traded fund range into French retail funds and vehicles for the rest of the world in order to maintain tax optimisation if a group of European nations introduce a financial transactions tax.
"We are probably going to create a range for French retail that is PEA-eligible and a separate range for the majority of our clients who are elsewhere, so we can serve both," says Arnaud Llinas, global head of ETFs and indexing at Lyxor.
Source: FT.com
June 25, 2014--The government has today (25 June 2014) cemented Britain's position as the western hub for Islamic finance by becoming the first country outside the Islamic world to issue sovereign Sukuk, the Islamic equivalent of a bond.
The government confirmed that £200 million of Sukuk, maturing on 22 July 2019, have been sold to investors based in the UK and in the major hubs for Islamic finance around the world.
Source: HM Treasury
June 25, 2014--Schroders, the London-listed active fund manager, has backed a wealth management business that invests its clients' money purely in passive funds.
Schroders joins a group of entrepreneurs who have invested $32 million in Nutmeg, an online exchange-traded fund (ETF) specialist launched in 2012.
Source: funds-europe.com
June 24, 2014--Morgan Stanley has launched its debut exchange-traded fund, the MS Scientific Beta Global Equity Factors UCITS ETF (GEF).
The ETF, which was unveiled on the London Stock Exchange earlier this month, provides exposure to the Scientific Beta Developed Multi-Beta Multi-Strategy Equal Weight Index and is the first ETF to be launched between Morgan Stanley and smart beta index provider ERI Scientific Beta.
Source: etfstrategy.co.uk
