LONDON, 22-Dec-2017 — /EuropaWire/ — Commenting on the European Commission proposal for a new prudential regime for investment firms, Michael Lever, Head of Prudential Regulation at AFME, said:
“We welcome the Commission’s proposal for a new prudential regime for investment firms. While we look forward to reviewing the proposals in detail, prudential rules that are specifically tailored to the business models and risks assumed by investment firms should further the development of the Capital Markets Union. Of particular relevance for AFME’s membership is the proposed requirement that investment firms which are major broker/dealers and play key intermediation roles in the EU’s capital markets will remain subject to the prudential rules of the CRD/R. The introduction of direct ECB oversight of such firms for their Euro area activities is also welcome as it will foster a supervisory level playing field.”
– Ends –
SOURCE: AFME
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