ContextKeynote at the ALFI Global Asset Management Conference in Luxembourg; ESMA protects investors and keeps EU markets orderly, and oversees a fund industry exposed to new risks.
Why it mattersESMA's chair notes how few EU households invest through funds compared with the United States.
Problems raised
EU households hold a small share of fund assets.
Some market frameworks are poorly calibrated.
Excessive fund leverage can threaten stability.
Solutions proposed
Build the Savings and Investments Union.
Recalibrate frameworks so they work as intended.
Balance market growth with investor protection and risk control.
