Views on improving the integrity of global capital markets

Mirzha de Manuel Aramendía

10 Posts


Mirzha de Manuel Aramendía is director of capital markets policy at CFA Institute. He is responsible for developing capital markets policy in the Europe, Middle East, and Africa (EMEA) region through education and research, developing policy papers, research projects, and regulatory consultations.

Author's Posts
Sluggish Pension Returns in Europe: Calls for Action

Better Finance Report reveals real return of pensions after costs, charges, taxes, and inflation in eight European countries.

CFA Institute: Strengthen Regulations to Enforce Investor Rights in Cases of Abuse

Report recommends improving traditional approach to supervision that currently punishes misconduct without directly benefitting the victims.

IORP II Directive: Additional Protection for Occupational Pensions Holders

IORP II contains a comprehensive framework for communications with plan holders, which closely mirrors the principles developed by the OECD and EIOPA.

EU Roadmap for Long-Term Financing: What Does It Mean for Investors?

More transparent, liquid capital markets will expand opportunities to European investors, but any new regulatory initiatives must have investor interests at heart.

“Better Finance”: More Investor Protection Could Aid Financial Stability in Europe

Five years since the start of the financial and economic crisis, the European Union is only now finalising the long-announced reforms of its legislative framework in the field of investor protection. As the European legislature comes to a close, the time is right to make an assessment of the state of investor protection and regulatory reforms in Europe.

The Orderly Resolution of Failing Banks: EU Policymakers Strike Compromise

CFA Institute recently supported a CFA Society of Belgium event on the “Banking Union: Will It Prevent the Next Financial Crisis,” which happened to fall on the eve of the deal struck by the European Parliament, European Council, and European Commission, after more than 17 hours of negotiations.

Market Abuse in Europe: Harsher Penalties for Insider Trading, Market Manipulation

EU steps up the fight against insider dealing and market manipulation. What challenges lie ahead?

A European Market for Personal Pensions: An Opportunity for Industry and Investors

The EIOPA recently published a preliminary report on the creation of a single market for personal pensions. This post considers the opportunities and challenges in creating a single market for personal pensions.

Shareholder Engagement: Gauging the Impact of Revised EU Shareholder Rights Directive

The 2007 shareholder rights directive aimed at facilitating shareholder control as a prerequisite to sound corporate governance. It introduced minimum requirements regarding information and participation in shareholder meetings. It also removed certain impediments to voting, such as the obligation to deposit shares, and enabled voting by electronic means and proxy.

Financial Innovation and Complexity in Retail Investment Products

In Europe, different cases of mis-selling have caused national supervisors to take a more proactive stance on “complex” products.

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