ESMA Chair Calls for Increased Transparency and Regulatory Convergence As Interest Rates Rise

In a recent speech delivered at the Asian Financial Forum in Hong Kong, Steven Maijoor, Chair of the European Securities and Markets Authority (ESMA), discussed several effects that current low interest rates have had on financial markets, including increasing investor demand for leverage and higher-yield investments, as well as impacting market liquidity. He also explained anticipated developments in the financial sector and recommended strategies to improve transparency for investors. Maijoor’s remarks offer valuable insight for hedge fund managers and other players in the European and Asian markets into ESMA’s focus and priorities, as he stressed the development of the Capital Markets Union and the need for regulatory cooperation. This article summarizes Maijoor’s speech. For additional insight from Maijoor, see “ESMA Chair Highlights Upcoming Focus on Supervisory Convergence” (Oct. 1, 2015).

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