NSA Press Releases
New Chairman and Secretariat
As of 20 June 2012 NSA has changed chairman from Petri Simberg, chairman of the Securities Dealing Executive Committee at the Federation of Finnish Financial Services (FFI) to Steen Blaafalk, chairman of the Executive Board at Danish Securities Dealers Association (DSDA). According to the NSA constitution, the function of the secretariat will follow the chair, which is why DSDA will serve as secretariat.
NSA advocates for the recognition of Nordic holding models in future CSD regulation
The Commission released its proposal for a Regulation on Central Securities Depositories (CSDs) and on improving settlement in the EU on the 7th of March 2012. For NSA it is important to ensure that the CSD regulation is neutral and does not favour one particular model of holding and recording of book-entry securities over another. The regulation should thus cover all currently existing direct, indirect or mixed European holding models.
Oxera reveals a new study on Financial Transaction Tax
The study is a review of the European Commission's latest commentary and is prepared for Association for Financial Markets in Europe, ASSOSIM (Italian Association of Financial Intermediaries), and Nordic Securities Association (NSA)
The study can be found here: What would be the economic impact on the EU of the proposed financial transaction tax
Nordic Securities Association's response to the questionnaire from MEP Ferber concerning the review of MiFID and the proposal for MiFIR has been published and can be found here.
The response contains our key views in the respective areas, focusing especially on organized trading facilities, transparency, investor protection and availability of market data.
NSA is e.g. supportive of calibration according to instruments and the access to best execution.
A recent study made by an independent economics consultancy Oxera reveals that the negative impact of the proposed Financial Transaction Tax is likely to be significantly larger than the Commission has expects.
The study can be found here: What would be the economic impact of the proposed financial transaction tax on the EU?