The chairman of EFFAS, Jesús López Zaballos, introduced the masterclass "European Legislation of the Capital Market", by the general director of FISMA-Financial Markets at European Commission, Ugo Bassi; together with the president of AIAF (Associazione Italiana degli Analisti e Consulenti Finanziari), Alberto Borgia.
The conference, organized by AIAF, took place on April 11 in a magnificent setting, such as Spazio Bigli, in Milan (Italy). The session was presented by Jesús López Zaballos, chairman of the European Federation of Financial Analysts Societies (EFFAS), who underlined the role of our Federation as a standard setter in the financial field.
In his speech, Ugo Bassi focused on the state of integration of the Capital Markets in Europe and, within it, the harmonization of the rules for the distribution of financial products and unique supervision.
Mr. Zaballos gave an interview to Aga Barberini, member of AIAF and CIIA Holders Italy. In it he underlined the importance of professional certifications (diplomas CEFA and CIIA) for financial analysts and portfolio managers, as it will soon become mandatory for them, in the same way in which MiFIDII imposed greater professional requisites on financial advisors.
EFFAS is cooperating with ESMA, the European Securities and Markets Authority, in order to issue a specific regulation and in view of MiFIDIII. Mr. Zaballos also specified that advancing robots in finance should not scare anybody, because fintech represents a major upgrade for analysts and advisors and will never fully replace a professional, especially when we talk about High Net Worth.