ALFI Warns EU MISP Could Shift €12 Trillion Savings Push Into Centralized Oversight
Updated
Updated · Wealth Briefing · Jul 10
ALFI Warns EU MISP Could Shift €12 Trillion Savings Push Into Centralized Oversight
1 articles · Updated · Wealth Briefing · Jul 10
Summary
Luxembourg’s fund industry said the EU’s Market Integration and Supervision Package risks eroding national autonomy by moving some supervisory powers from local regulators to ESMA.
The package, unveiled in December 2025, is meant to remove cross-border barriers, deepen capital markets and channel part of Europeans’ roughly €12 trillion in cash savings into risk assets.
ALFI chief Serge Weyland said asset managers are being treated too much like banks and warned annual ESMA reviews of large management companies and AIFMs could politicize supervision.
Brussels is aiming to wrap up the debate by 2027 under the current Irish EU presidency, while Luxembourg argues harmonization should not come at the cost of innovative freedom.
Beyond the regulatory fight, ALFI said Luxembourg is still focused on attracting global fund flows and mobilizing retail and pension savings, even as the country adds the new defence bank’s European base.