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EFAMA welcomes Brussels back down on fund manager pay cap

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The European Fund and Asset Management Association (EFAMA) says the vote on UCITS V, which rejected a plan to cap fund manager bonuses, is testament to the importance the European Parliament places on UCITS and investor protection.

 
Peter de Proft (pictured), director general of EFAMA, says: “EFAMA will continue to work with the parliament, the council and the commission throughout trilogues. EFAMA wishes the final directive to deliver a good result for end-investors in relation to the safeguarding of assets and other provisions that benefit end-investors.”
 

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