European fund body calls for removal of 10% depreciation rule

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European fund body calls for removal of 10% depreciation rule

The European Fund and Asset Management Association (EFAMA) has called for the removal of the ‘10% depreciation alert' as it "encourages short-term behaviour, does not provide any added value…and increases operational costs," among other recommendations in its response to the European Commission's review of MiFID II/MiFIR. It has proposed revisions to Level 1 texts only and has indicated these can be achieved through a "more flexible interpretation" of the framework "via targeted amendments...

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