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BETTER FINANCE’s full Response to the Targeted Consultation on SRDs – Shareholder Rights Directives (SRD1 and SRD2) for the European Commission by the CSES — [15 December 2023]. BETTER FINANCE advocates for the enforcement of investors’ and shareholders’ rights, underscoring the pivotal role of engagement as a cornerstone within robust green transition plans and corporate

Transparency Task Force is holding an online event, to draw attention to the collective redress action by Stichting Investor Loss Compensation (SILC) for individual Airbus investors who have incurred damages, and to discuss the “Power of Class Actions to get Justice”. The event is scheduled for Tuesday, July 4th, between 6:00 PM and 7:30 PM

BETTER FINANCE was quoted in a recent Reuters article on the ongoing discussion surrounding the European Union’s plans to enhance consumer protections in the financial services sector through its retail investment package. Notably, the EU aims to introduce ‘value for money’ safeguards as well as a ban on “inducements” for non-advised sales of investment products,

BETTER FINANCE response to the European Commission’s request for feedback on the review of the Listing Act – making public capital markets more attractive for EU companies and facilitating access to capital for SMEs. BETTER FINANCE welcomes the stated objectives of the listing act review for prospectus standardisation and streamlined IPO cost reduction, particularly for

For a third year in a row, a study by BETTER FINANCE and DSW still points to considerable barriers to shareholder engagement as the Shareholder Rights Directive II fails to deliver for European cross-border shareholders, seriously hampering long-term investor engagement and sustainable corporate governance. Following the entry into force of the Shareholder Rights Directive II

Would you agree with the assessment that certain products that are offered to consumers do not offer Value for Money? If yes: a) how significant a problem would you consider this to be? b) for which products/market segments is this problem particularly relevant? To begin with, BETTER FINANCE firmly suggests providing clear definitions for key concepts,

In a late bid to address soaring inflation in the Euro area, the European Central Bank (ECB) increased interest rates for the first time in 11 years in July 2022, raising its main rate to 0 percent after eight years of negative rates, and reaching 0,75% today. Notwithstanding, Eurozone inflation hit a new record high

BETTER FINANCE answer to the European Commission’s consultation to gather evidence for the PSD2 review and to inform its work on open finance. In the light of this informative consultation on open, BETTER FINANCE advocates that consumer data should not be retained beyond what is strictly necessary to provide the service and should then be

EXECUTIVE SUMMARY What is Alternative/Online Dispute Resolution (ADR/ODR)? Non-judicial procedures through which consumers (for our constituency, “retail” financial services users) can solve disputes with professionals and obtain redress for their rights. These are generally referred to as alternative dispute resolution (ADR) or out-of-court settlement of consumer claims. Cases are (or should be) handled by independent

BETTER FINANCE’s answer to the European Commission (EC) consultation on environmental, social, and governance (ESG) ratings and sustainability factors in credit ratings aims to inform on concerns about the functioning of the ESG ranking market developed by commercial data providers. This agenda pertains to the renewed sustainable finance strategy adopted in July 2021 by the

For a long time considered a model of German success story, the online payment company Wirecard collapsed in 2020 in a dramatic and scandalous bankruptcy, tarnishing the reputation of the political class and financial control authorities. This Thursday, the trial of the former president of Wirecard and two other managers opens in Munich. An alleged

Dutch foundation to enable assertion of claims against EY Deutschland and EY Global – at no cost and risk-free. Amsterdam | Düsseldorf | Frankfurt, 06 April 2022 – Wirecard AG’s bankruptcy is likely one of the biggest economic scandals in German history. Within no time it became clear that the high-tech hopes for online payments

The EU Commission has announced to work on an audit reform in the aftermath of the Wirecard scandal. ” Wirecard has clearly illustrated what can happen if the three lines of defense – Internal Control System, good corporate governance incl. a strong Supervisory Board and the external audit fail to perform. This is a major issue

BETTER FINANCE thanks the European Securities and Markets Authority (ESMA) for its “peer review” report on the Wirecard scandal. It is quite revealing of the many failures and conflicts of interests that can plague even the most resourced national financial supervisors. It is unfortunate however that ESMA did not look into the handling by the

Following the fallout from the Wirecard AG scandal BETTER FINANCE’s German member organisation, DSW, the leading shareholder association in Germany, launched an information campaign for duped investors, including a series of Q&As and a press release to inform abused investors about the next steps. Wirecard investors are entitled to register their claims in the insolvency

| UPDATE 12 October 2020: Wirecard investors can now register their claims to participate in insolvency proceedings | After publishing a series of Q&As for duped individual investors and pension savers in light of the outrageous Wirecard AG scandal, BETTER FINANCE’s German member organisation, DSW, the leading shareholder association in Germany, issued a press release today

BETTER FINANCE’s German member organisation, Deutsche Schutzverein für Wertpapiersitz (DSW), published a series of Q&As for duped individual investors and pension savers in light of the outrageous Wirecard AG scandal and the accompanying, corporate governance, external auditing and supervisory failures. The Q&A document is available in English on the BETTER FINANCE website below. On 1

Brussels, 31 July 2020 – On 24 July 2020, the European Commission (EC) announced the “Capital Markets Recovery Package”, as part of the its overall coronavirus recovery strategy, aimed at making it easier for capital markets to support European businesses in their recovery from the fallout from the ongoing Covid-19 crisis. To this end the

Düsseldorf, 01 July 2020 – DSW, the leading shareholder association in Germany, repeatedly criticised Wirecard in the last years for its lack of transparency and weak Corporate Goverance structures. „The ad-hoc disclosure of 18 of June 2020, in which the company stated that there was no proof for the escrow accounts about 1.9 billion €

It is with surprise that BETTER FINANCE and its member organisations representing financial services users read the headline on 18 June 2020 that Wirecard AG (“WD”), one of Europe’s FinTech success stories, may have mis-reported €1.9 billion in its balance sheets, filling for insolvency a few days later.

9 October 2017 – BETTER FINANCE, the European Federation of Investors and Financial Services Users, launched the fifth edition of its annual Pension Savings Report. Started in 2013, the annual research report undertakes an analysis of European pension investment funds and State pensions schemes, in order to provide the European citizen with the ‘real figures’

Online investment advice:  a "robo-advisor" for your savings? "The big question is whether it is better to regulate this new world of online finance, especially when it comes to advice" resumes Guillaume Prache. “Financial advisers are regulated, but since advice now also comes from non-financial players we find ourselves in a legal limbo. Do online

Mitgliedschaft bei „BETTER FINANCE“ besiegelt Seit gestern ist der Bund der Versicherten e. V. (BdV) nun auch verstärkt in Europa aktiv. Mit seiner Mitgliedschaft bei der größten Dachorganisation von unabhängigen Verbraucherverbänden (NGOs) für Finanzdienstleistungen in den EU-Staaten „BETTER FINANCE“ hat der BdV jetzt auch außerhalb Deutschlands die Möglichkeit, mit neuen Partnern für mehr Verbrauchergerechtigkeit zu

The Securities and Markets Stakeholder Group of ESMA has published its Advice on the Regulation of Benchmarks and Indices, which addresses the following key issues for individual investors and financial services users: The access to indices’ and benchmarks’ past performance should be made easily and freely available to individual investors and borrowers; An independent committee