PwC's Managing upstream risk: Regulatory reform review - An asian perspective November 2013 | Page 26

4. Asset Management
4.1 AIFMD

Update

On 5 November 2013 Steven Maijoor, Chair
of ESMA delivered a speech at the EFAMA
Investment Management Forum in Brussels on
the issues and priorities in asset management. A
summary of points is as follows:
• Supervisory and regulatory authorities
should always be wary of intervening in
specific investment decisions. There are
many factors that need to be taken into
account when assessing the merits of a
particular investment choice, so regulators
should focus on ensuring that those choices
are made on the basis of sound and accurate
information and, where relevant, goodquality advice.
• he authority is interested to understand
T
better why retail exposure to ETFs appears
to be relatively low and are looking into this
matter further, and hope to have a clearer
overview of t