London should make its case as Europe’s leading banking centre, contributing to stability, jobs and growth.
Currently, independent governance committees (IGCs) and trustees are required to request and report on transactions costs as far as they are able but asset managers are not required to provide full disclosure of these costs in a standardised form.
Oliver Wyman thinks 31,000 to 35,000 jobs could be directly at risk and that a further 34,000 to 40,000 jobs could disappear from London
ESMA’s report assesses whether the use of SFTs leads to the build-up of leverage which is not yet addressed by existing regulation, and whether there is a need to take further measures to reduce its pro-cyclicality.
Other more cautious sectors also proved popular, including targeted absolute return funds, mixed asset funds and money market funds, while equity funds continued to experience net outflows