|
|
AIMA made the comments in its response to the European Commission’s Call for Evidence on the EU regulatory framework for financial services, published in September 2015.
In its response, AIMA explains that capital market financing is more long-term and transparent, encourages greater innovation and discipline, which leads to better allocation of resources and economic growth.
However, regulatory barriers still prevent capital markets and non-banking finance from developing further in the EU.
AIMA makes the case that rules should allow greater asset managers’ participation in securitisations in order to support the supply of finance to small and medium-sized enterprises (SMEs). AIMA also argues that greater holding of financial assets by institutions and investors that can bear risk without the need for public support - such as investment funds - will improve financial stability.
The response addresses a number of other areas where AIMA believes that existing regulation is not achieving its intended policy objectives, highlighting:
Jack Inglis, CEO of AIMA, said: “We recognise that most of the regulatory measures introduced since the financial crisis were intended to address key policy concerns and market failures. Our members welcome the opportunity to be part of the review and evaluation of this new regulatory framework in order to ensure that the policy objectives are being met and, if not, to adjust the structure where necessary.”