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02/11/2016
 

Better Finance response to the EC's public consultation on a potential EU personal pension framework (Part B2 - Consumer Organisations)


The consultation will help the Commission analyse the case for an EU personal pension framework. It builds on previous consultations launched by the Commission and EIOPA on personal pensions, but increases their scope. In July 2012 and in 2014, the European Commission asked EIOPA to develop technical advice on an EU Internal Market for personal pension schemes or products. The Commission sought advice in particular on the cross-border, prudential regulation and consumer protection measures that would be required to develop an EU single market for personal pension schemes. EIOPA has responded to those requests and favoured the creation of a harmonised legal framework for a Pan-European personal pensions market. The Commission, in this consultation, aims to build on that advice and widen the range of possible options and stakeholders consulted. Better Finance provided its views on a PEPP in this important consultation.

Categories: positions
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Better Finance
Better Finance
 
 
 
 
 
12/10/2016
 

EC CONSULTATION ON THE CMU ACTION ON CROSS-BORDER DISTRIBUTION OF FUNDS


The remaining barriers to cross-border distribution are varied – and may include the impact of concentrated fund distribution channels in individual member states, cultural preferences for funds managed in investors’ home states, and a lack of incentives for managers to compete cross-border. However, one obstacle that has been consistently cited, and which may be relatively more important for smaller managers, are the regulatory barriers to distribution. Regulatory barriers have been identified in response to the Capital Markets Union green paper and to the Call for Evidence on the EU Regulatory Framework for Financial Services as including burdensome registration procedures, costly and diverse marketing requirements, inconsistent administrative arrangements and tax obstacles. Eliminating unjustified barriers would support fund managers to engage more in cross-border marketing of their funds, increase competition and choice, and reduce costs for investors. The Commission is seeking further details and evidence from stakeholders including fund managers, investors and consumer representatives in order to understand where and how the cross-border distribution of funds could be improved.

Categories: positions
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Better Finance
Better Finance
 
 
 
 
 
12/10/2016
 

Response to MEP Sven Giegold's Consultation on Mis-selling of Products


Better Finance of course shares the view of MEP Sven Giegold that financial markets must serve consumers and end-users, and welcomes the European Parliament’s ECON Committee focus on the mis-selling of financial products. Better Finance experiences that the mis-selling of saving and investment products is a major issue of enforcement and supervision as several key EU regulatory provisions regarding retail investor and saver protection are not properly enforced, especially key MiFID ones

Categories: positions
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Better Finance
Better Finance
 
 
 
 
 

Spotlight

The latest edition of our report on Pension Savings is now available for download!

 

 

 

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