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01/12/2017
 

Feedback on the revision of the Injunctions Directive


BETTER FINANCE (BF) welcomes the opportunity to comment on the Inception Impact Assessment on the revision of the Injunctions Directive. The right to claim compensation and the right to access to justice should not remain theoretical for consumers and investors. It is especially important in the area of financial services where quite technical and complex financial products have a serious impact on the quality of life of active and retired citizens and where due to the lack of an effective redress mechanism many consumers are unable to exercise their rights.

Categories: positions
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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
01/12/2017
 

BETTER FINANCE feedback on the supervisory architecture of CCPs


BETTER FINANCE welcomes the opportunity to comment on the Commission’s proposed regulation as regards the procedures and authorities involved for the authorization of CCPs (central counter parties) and requirements for the recognition of third-country CCPs. BETTER FINANCE supports the main elements of this proposal introducing a more pan-European approach to the supervision of EU and third countries CCPs which would enhance the oversight of the Union and third countries CCPs, lead to further supervisory convergence, to stronger and more effective cooperation between the supervisors, and to foster financial stability and competition.

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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
01/12/2017
 

BETTER FINANCE response to the public consultation on transparency and fees in cross-border transactions in the EU


The Regulation on cross-border payments equalised fees for cross-border and national payments in euro within the EU. However, payments involving currencies of EU Member States other than the euro are not covered by the Regulation, unless Member States extended the regulation to their national currency on a voluntary basis. The Regulation gives the option to Member States to equalise fees for cross-border transfers in the local currency and corresponding domestic transfers. So far, only Sweden chose to opt in and align these fees with euro transactions. In all other Member States, fees for cross-border transactions in non-euro currency remain very high, and well above the level of fees for purely national transactions in non-euro currencies. In particular, high minimum fees can make small transactions very expensive.

Categories: positions
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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 

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