On 6 March 2019, the European Securities and Markets Authority (ESMA) published a speech by its Chair, Steven Maijoor, which discusses priorities for the asset management sector.

Mr Maijoor focuses his remarks on how people’s investments in financial products progress over time, and the role of costs. Firstly, Mr Maijoor talks through ESMA’s first annual costs and performance report on retail investment products. In particular, he highlights how costs affect value of an investment over time. Secondly, he covers the relevance of costs of investment services and products in the EU legislative framework that relates to the provision of investment services. Finally, he emphasises the importance of cost disclosure in the context of the PRIIPs Regulation, and its upcoming review this year.