The European Federation of Financial Analysts Societies, EFFAS, is the European umbrella organisation of national analysts societies. It comprises 25 members representing more than 14,000 investment professionals in the areas of Equity and Bond Research, Asset Management as well as Investment Advice.
As a general remark, we believe that the envisaged revision of the MAD is important and valuable. We think, however, that certain parts and features of regulation will need some more time before it will be possible to properly consider the measures to be taken, given the current situation of markets and market participants. This applies in particular to the questions on potential extensions of the MAD, e.g. to MTFs, markets for other instruments, and short-selling.
© EFFAS
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EFFAS reply on MAD.pdf
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