Josina Kamerling, head of regulatory outreach at CFA Institute for the Europe, Middle East, and Africa region, reports on EU policy issues. She covers the May European Parliament election results, including commentary on the next European Commission president, the makeup of parliamentary committees, and how these developments will affect the implementation of the Markets in Financial Instruments Directive (MiFID).
For more information on these topics, listen to parts one, two and three of this podcast series:
Northern Trust's FlexShares has brought to the New York Stock Exchange three exchange-traded funds aimed at delivering low volatility. The FlexShares US Quality Low Volatility Index Fund, the FlexShares Developed Markets ex-US Quality Low Volatility Index Fund and the FlexShares Emerging Markets Quality Low Volatility Index Fund buy stocks of companies that have been screened for high cash flow, management quality and profitability. ETF (17 Jul.)
Canadian, European and Japanese banking groups have criticized a proposal by the Federal Reserve to impose liquidity standards on foreign banks' US branches. The groups say "all capital and liquidity would become ring-fenced and fragmented along geographic lines" if other jurisdictions were to follow suit. MLex (subscription required) (17 Jul.)
Enforcement by national financial regulators varies significantly among EU states. Practice Insight reviews practices in four major jurisdictions: France, Germany, the Netherlands and the UK. Practice Insight (17 Jul.)
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