AFME has also pushed for a review of existing financial services legislation to identify and address obstacles to distributed ledger technology innovation
Responses from the European Commission’s CSDR consultation found that 51 out of 91 respondents said the buy-in regime should change from a mandatory requirement to a voluntary one
ISLA, ICMA and ISDA are among 14 trade bodies to renew calls for the buy-ins rules to be shelved until "essential" amendments are in place and give in-scope entities more time to prepare
“We believe that if done correctly SFDR will help focus efforts more towards sustainable investments,” says Jag Alexeyev, head of ESG insights at Broadridge Financial Solutions
“The periods of high volatility and low liquidity observed during COVID-19 crisis would have been further exacerbated by the existence of a mandatory buy-in regime,” AFME explains
“With only eleven months remaining, there is insufficient time left for fund managers (and other product manufacturers) to properly implement the envisaged wide-ranging changes,” says EFAMA
