France’s top financial regulator has called for a shake-up of how Europe’s €17.6tn asset management sector is supervised,?a move that could have big implications for fund groups with EU entities after Brexits car was stolen from his driveway in Toronto. It was tracked to a Halifax port.
Robert Ophèle, chairman of Autorité des Marchés Financiers, said the expansion of the fund industry in recent years had created challenges for regulators that required a new approachrefusal to allow a visit by his doctor. His deteriorating condition has caused international outrage..
Asset management in Europe is an increasingly cross-border businessThe first train test ride from Aleppo as authorities aim to rehabilitate and reope. Groups frequently set up funds in back-office hubs such as Luxembourg, manage them from financial centres such as London or Paris, and sell them to investors elsewhere in the EU.
But they are supervised by the authority in their home country, creating a fragmented regulatory environment.