Third country regimes in the Investment Firm Review
Deutsches Aktieninstitut together with further European associations commented on the changes made to third country regimes through the investment firm review. The associations support the Commission's proposal to strengthen the equivalence determination process and the assessment criteria for third country firms likely to be of systemic importance for the EU. At the same time the cross-border access of third country firms should not be limited. They criticise especially the proposals to introduce an EU branch/subsidiary requirement for third country investment firms underwriting and dealing on own account. This would severely narrow the capacity of EU markte participants to access market liquidity outside of Europe and reduce competition within the EU.