RT George Theocharides (@Theocharides_G)Just wrapped up a very interesting and insightful 2-days meeting of the Risk Standing Committee of @ESMAComms in Paris. It is a great privilege for me to chair such an outstanding Committee and many thanks to the two rapporteurs from #ESMA, Claudia Guagliano and Christian Winkler, for putting together such an interesting selection of topics and speakers for discussion.During the first day we had our internal meeting with presentations coming mainly from #ESMA staff an ...

These reported incidents of stress in an industry with 'light-touch' regulations have raised concerns over transparency, risk monitoring and investor protection. There have been at least a couple of defaults in the range of Rs 100 crore each, sources said.Industry executives say a few private credit deals are already showing early signs of stress. Light-touch regulations have meant that unlike banks or non-bank lenders that must periodically disclose their suspect-loans data, lenders in these markets do n ...

> 东方财富证券 | 投资者教育基地 投资者的一致 关于加强资本市场中小投资者保护 的若干意见(一) 尊敬的投资者 为深入贯彻落实党的二十大和二十届二中、三中、四中 全会精神以及中央政治局会议要求,健全投资者保护机 制,在推进强监管、防风险、促高质量发展中全面推进 资本市场投资者保护工作,切实保护投资者特别是中小 投资者合法权益,中国证监会提出以下意见。 、强化发行上市过程中的中小投资者保护 | (一)优化新股发行定 | 推动形成鼓励长期持有的新股发行 网下配售机制;强化网下投资者分 | | --- | --- | | 价机制 | 类评价管理。 | | (二)进一步提升招股 | 健全招股说明书信息披露指引体 系,提升招股说明书的可读性;健 | | 说明书信息披露质量 | 全保荐机构市场声誉约束机制。 | | (三)压实上市公司及 | 压实上市公司依法披露相关信息及 | | 相关方的信息披露责任 | 风险因素。 | 四)推动上市公司增 强投资者回报 倡导上市公司采用"注销式回购" 等方式回报投资者。 二、营造有利于中小投资者公平交易的制度环境 严格落实证券交易、期货交易必须统一通过证券公 司、期货公司业务系统的 ...

Retail investors face too much complexity when starting to invest.🛣️ #ESMA sets out actions to support a smoother & more accessible #investor journey – from simplifying disclosures to cutting complexity in suitability & sustainability assessments.https://t.co/mkP7wdu5d3 https://t.co/UE4DQGRk21 ...

🚨 TODAY: Alongside the @CFTC, we entered into an updated Memorandum of Understanding to guide future coordination between our two agencies.This MOU will support lawful innovation, uphold market integrity, and promote investor and customer protection.Link in the comments. https://t.co/tAJbYrukvs ...

🌿 The European #Sustainability Reporting Standards introduce a number of helpful simplifications, and #ESMA’s opinion highlights targeted adjustments where additional clarity would support investor protection and financial stability.🍃 https://t.co/gXetrwNUiq https://t.co/idoU7VYpNa ...

✨#ESMA15years highlight: Why was #ESMA created?After the financial crisis, Europe reshaped financial supervision. ESMA was set up to rebuild trust & strengthen #EUmarkets.Our mission is unchanged: protect investors, safeguard market integrity, support financial stability.🛡️ https://t.co/SM3N4gm1MR ...

#ESMA protects investors – and we are now bringing this mission to @instagram.📲 Join us: @ESMAcomms → https://t.co/oBy8Wv8aUz💡 We will feature visual & interactive tips – polls, quizzes, carousels, and reels – designed to make #FinancialEducation approachable and engaging. https://t.co/Ye8dAPGkc3 ...

Regulation does not inherently harm an industry. I would argue that in fact it makes it stronger. In 33 and 34 when the Securities Act and the Securities Exchange Act were passed, the big operators in the capital markets said, "You're destroying this really important business that is inherently American. And look at all these good upstanding citizens that are involved in this space that you're harming. We now have in America the strongest, most desirable financial markets in the world.Regulation does not in ...

Deal Rationale & Market Trends - Private markets are experiencing significant growth, with the average company staying private for 14 years, a substantial increase from 5 years 20 years ago [2] - This trend presents challenges for average investors, limiting their access to wealth creation opportunities primarily available to institutional investors and VCs [3] - Morgan Stanley's acquisition of Equity Zen aims to address the challenges of illiquidity for employees and limited access for average investors in private markets [4] - Other firms are also expanding their reach into private markets through exchanges or data collection, indicating a growing trend [9] Morgan Stanley & Equity Zen Synergies - Morgan Stanley possesses significant demand with $7 trillion in assets and 20 million clients, along with supply through its cap table management of thousands of private market companies and its partnership with Carta [5] - Equity Zen bridges the gap between Morgan Stanley's demand and supply in the private market [6] - The integration of Equity Zen will improve investor protections by professionalizing the private market part of the ecosystem and fitting it into Morgan Stanley's overall risk management framework [8] Investor Protection & Risk Management - Morgan Stanley takes investor protection seriously, leveraging its AML policies, KYC procedures, risk tolerance framework, and asset allocation framework [7] - Integrating private market shares into a holistic asset allocation will address risk, with private market investments not recommended to be 100% of a portfolio [11] - Morgan Stanley is working with its global investment team to ensure that every client participating in the private market does so in a risk-managed fashion [12] Client Demand & Portfolio Allocation - Morgan Stanley has seen "off the charts" demand from clients for private market access [12] - The firm aims to extend access beyond its highest net worth clients to its entire 20 million clients and Equity Zen's nearly 1 million clients [13] - The overall allocation towards alternative investments (alts) in a portfolio is around 10-15%, and private market investments would fit into this category [15]