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Friday, 18th December 2015

Report on Investment Firms

Source: European Banking Authority via ESMA

From Executive Summary:

The European investment services landscape comprises various types of operators. There are a little more than 6 500 investment firms initially authorised and regulated by the Markets in Financial Instruments Directive (MiFID). In number, just over half of these are based in the UK. The United Kingdom, Germany and France are the main jurisdictions for over 70% of the investment firm population of the European Union (EU).

The MiFID lays down organisational, governance, consumer protection and market functioning regulations, as well as setting out the passporting process for those firms that provide one of the listed services in the MiFID (i.e. investment advice to clients, management of client portfolios, execution of clients’ orders on financial instruments, reception and transmission of orders on financial instruments, dealing with own account, market making, underwriting, placing of financial instruments, and operating trading facilities)...

It is in this landscape that the EBA, in consultation with ESMA, has considered the Commission’s recent call for advice on the suitability of certain aspects of the prudential regime for investment firms. This report presents the EBA’s findings and makes certain recommendations that it believes will lead to a more proportionate and risk-based prudential regime for investment firms.

+ Direct link to document (PDF; 1.3 MB)



Having begun his career in academic libraries, Adrian Janes has subsequently worked extensively in public libraries, chiefly in enquiry work as an Information Services librarian. In this role he has had particular responsibility for information from both the UK Government and the European Union. He wrote a detailed report on sources for the latter which was published by FreePint in 2007, and has contributed articles to FreePint and ResourceShelf. He is involved in training in information literacy and the use of online reference resources.

A Contributing Editor to DocuTicker, he also write reviews for Pennyblackmusic.

More articles by Adrian Janes »

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