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Natixis Investment Managers

Ranked among the world’s largest asset managers1 with approx.

Lobbying Activity

Meeting with Almoro Rubin De Cervin (Head of Unit Financial Stability, Financial Services and Capital Markets Union) and Afore Consulting and

3 Dec 2025 · Credit insurance

Meeting with Elena Arveras (Cabinet of Commissioner Maria Luís Albuquerque)

24 Oct 2025 · SFDR review

Meeting with Almoro Rubin De Cervin (Head of Unit Financial Stability, Financial Services and Capital Markets Union) and European Banking Federation and

14 Oct 2025 · Prudential treatment of banks’ exposures to crypto-assets

Meeting with Almoro Rubin De Cervin (Head of Unit Financial Stability, Financial Services and Capital Markets Union) and BNP PARIBAS and

2 Oct 2025 · Operational Risk

Meeting with Sirpa Pietikäinen (Member of the European Parliament) and BlackRock and

19 Sept 2025 · EU’s investment capacity in the context of SIU

Meeting with Aurore Lalucq (Member of the European Parliament) and Association Française de la Gestion financière

5 Jul 2025 · Union de l’Épargne et de l’Investissement

Response to Savings and Investments Union: Directive fostering EU market integration and efficient supervision

5 Jun 2025

Natixis Investment Managers welcomes the call for evidence of the European Commission on Savings and Investments Union : fostering integration, scale and efficient supervision in the single market We share and strongly support the drive to further integrate European capital markets. We support its ambition to facilitate market-driven consolidation, a strong asset management sector and supervisory convergence. UCITS (1985) and AIFM (2011) directives are internationally recognized state-of-the-art, golden standards, thanks to the EU passport, enabling professional investment managers to pool collective investments across various European countries on behalf of (institutional and retail) clients, and by doing so, helping finance business, government, and households in Europe. (1-) Simplification, streamlining, and level playing field UCITS and AIFMD have just been reviewed. We thus caution against relentless legislative changes which inevitably come with considerable regulatory burden and cumulative costs. The best way to simplify is first to refrain from adding additional requirements without a holistic/cumulative assessment. We do not support reopening UCITS and AIFMD at level 1. For the future, to avoid national gold plating, regulations should be preferred over directives. We are of the view that substantial cross-border barriers are inconsistent/heterogeneous taxes, particularly withholding taxes. We are supportive of the FASTER directive, but its direction of travel has lost its initial purpose: a game-changer would be the abolition of withholding taxes within the European Union. We also support streamlining the PRIIPS KID, which is overly complex and hard to understand. More specifically, performance scenarios and implicit transaction costs can be misleading for investors. This is also a question of level playing field with the UK. More than the content and implementation of level 1 legislations, the massive development of level 2 and 3 regulations by the ESAs is however a huge regulatory burden with underestimated cumulative costs. We suggest sticking with the Meroni doctrine, whereby EU institutions should not delegate discretionary powers of political nature to agencies. Particularly if they are regulating for risks (financial stability, orderly markets, investor protection) but not for growth. To both alleviate regulatory burden and ease the development of paneuropean investment solutions, NCAs should be prevented from developing their own regulations/doctrines when it could conflict or add additional requirements to the ESAs. (2-) Leveraging integrated markets for competitiveness and growth A competitiveness and growth objective should be integrated in regulators mandates (ESAs: EBA, EIOPA, ESMA), like the US SEC (capital formation is one of the objectives), the UK FCA (competitiveness and medium to long-term growth, including of the financial sector, is a secondary objective), or the Japanese FSA. Scale matters and requires capital. A Europe open to the world also needs strong local and European players, not just consumers overly dependent on other regions of the world. Most EU asset managers are bank- or insurance-owned, the lack of global prudential level playing field has also played a key role in the gap in sizes between non-EU/EU players over the last decade. We support a global prudential level playing field with other regions of the world. (3-) Notion of asset management group and supervision We welcome the recognition of the notion of asset management group applied to intra-group delegation arrangements in the EU to substantially reduce existing reporting duplications and strengthen operational efficiency. However, we caution against the creation of additional layers of supervision, but see the merit of strengthening existing ESAs supervisory convergence tools.
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Meeting with Andrea Beltramello (Head of Unit Financial Stability, Financial Services and Capital Markets Union), Helene Bussieres (Head of Unit Financial Stability, Financial Services and Capital Markets Union) and

20 Feb 2025 · Capital Markets Union (CMU) and Saving and Investment Union (SIU), with a focus on long-term savings accounts, the Non-Bank Financial Intermediation (NBFI) agenda, and the review of the UCITS Eligible Assets Directive.

Meeting with Tilman Lueder (Head of Unit Financial Stability, Financial Services and Capital Markets Union) and Fleishman-Hillard and

20 Feb 2025 · CMU discussion with asset management industry

Meeting with Elena Arveras (Cabinet of Commissioner Maria Luís Albuquerque), Philippe Thill (Cabinet of Commissioner Maria Luís Albuquerque)

18 Feb 2025 · Exchange with Natixis Investment Managers on the SIU and the Retail Investment Strategy

Meeting with Helene Bussieres (Head of Unit Financial Stability, Financial Services and Capital Markets Union)

18 Feb 2025 · The Savings and Investments Union, notably the retail participation dimension.

Meeting with Stéphanie Yon-Courtin (Member of the European Parliament, Rapporteur) and BNP PARIBAS and

22 Feb 2024 · Retail investment Strategy

Meeting with Sirpa Pietikäinen (Member of the European Parliament)

25 Jan 2024 · SFDR

Meeting with John Berrigan (Director-General Financial Stability, Financial Services and Capital Markets Union) and Fleishman-Hillard and

29 Nov 2023 · CMU, development of non-bank finance

Meeting with Mario Nava (Director-General Structural Reform Support) and Fleishman-Hillard and

28 Nov 2023 · Exchange on capital markets in the EU.

Meeting with Florian Denis (Cabinet of Commissioner Mairead Mcguinness)

10 Oct 2023 · expected priorities for the next legislative mandate, including the SFDR review

Meeting with Gilles Boyer (Member of the European Parliament)

15 Sept 2023 · Retail Investment Strategy

Meeting with Axel Voss (Member of the European Parliament, Shadow rapporteur) and BlackRock and

15 Mar 2023 · Corporate Sustainability Due Diligence

Meeting with Axel Voss (Member of the European Parliament, Shadow rapporteur) and BUSINESSEUROPE and

8 Mar 2023 · Corporate Sustainability Due Diligence