The United Kingdom’s withdrawal from the EU presents challenges and opportunities to the alternative asset management sector in Europe. MFA is at the forefront of preparing market participants, policy officials, regulators, and other stakeholders for this shifting landscape. We are prepared to engage constructively in Brussels and London to assist on these priorities:

In the short term:

  • Reach outcomes-based equivalence agreements on derivatives clearing under EMIR and on shares and derivative trading obligations under MiFID;
  • Ensure the continuity of portfolio delegation arrangements between the EU and U.K.; and,
  • Seek adequacy decisions for data transfers under GDPR;

In the medium term:

  • Refine rules in the EU and U.K. governing asset management to promote streamlined and proportionate reporting;
  • Offer Europe’s institutional investors more investment choices by rationalizing marketing rules; and,
  • Preserve market integrity by protecting confidential information in the supervisory process.