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EFAMA replied [on Friday 18 March 2016] to the European Commission's Green Paper on retail financial services. EFAMA strongly supports actions to deepen the European single market for retail financial products and services, and address its remaining barriers, for consumers and businesses to make full use of it.
Alexander Schindler, President of EFAMA, said: "Investment funds – UCITS in particular – are the best possible example to date of a well-functioning EU single market for financial services, and UCITS is often cited as a successful story to find inspiration from". The share of funds distributed on a cross-border basis in Europe is regularly increasing and stood at 42% of total European investment fund assets in 2014 (from 29% at the end of 2004).
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