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The Economic and Monetary Affairs of the European Parliament (ECON) voted yesterday on the Regulation for a Key Information Document for investment products (formerly known as “PRIPs”). EuroFinUse praises the European Parliament for voting for more consistency in summary information for investors, but is quite concerned that a majority of the critical long term and

On October 18, EuroFinUse and the Austrian Shareholder Association (IVA) held an international conference on “The Financial Repression of Savers and Investors”, in Vienna. International authorities from the private and public sectors discussed the alleged inevitability of Financial Repression and proposed solutions to face this issue. The event held at the Vienna Insurance Group was

Yesterday EuroFinUse, WWF and VoteWatch Europe were the last remaining candidates standing at the coveted European Public Affairs Awards, eagerly awaiting the announcement of the winner of the “NGO of The Year” category. The EPA awards single out organisations for excellence in their respective sector, while aiming to encourage best practice in the European public affairs

The European Federation of Financial Services Users releases its research report on the real return of pension savings. This research confirms, broadens and deepens the OECD 2012 Pensions Reportconclusions which revealed negative real returns on average for pension funds.  Our research adds other pension savings than pension funds, includes France (not covered by the OECD

EuroFinUse invites you to the Conference on the BETTER FINANCE MANIFESTO which will take place at the European Parliament on March 28. Whereas there are many challenges ahead, few are as acute as dealing with the fallout of the financial crisis. In order to shore up the real economy, protect savers and investors, concentrate on long term

On 26 March, EuroFinUse, the only organisation dedicated to defend the rights of European financial services users, organised a high-level conference on the audit reform, hosted by British MEP Sajjad Karim, to discuss the proposals linked to audit tenure, non-audit services policy, quality, transparency, pricing as well as those targeting the role of audit committees

At the EuroFinUse General Assembly, on 25 March 2013, Jean Berthon was elected as President to head the one and only organization dedicated to defend the rights of financial users. On January 1st 2013, Euroshareholders and EuroFinUse – the two European organizations representing individual shareholders, investors, savers and other financial services users – merged to

EuroFinUse praises the Eurogroup statement from late Monday in favor of fully guaranteeing deposits below EUR 100,000. Moreover, we believe bank depositors should not pay for the excesses of the banking industry and or governments. Therefore, depositors should be protected from bearing the bulk of the Cypriot rescue package. Full Press Release

EuroFinuse, the European Federation of Financial Services Users, is closely following the debate onthe “UCITS V Directive” that is currently focusing on depositories’ liabilities and asset managers’remuneration.These are two major issues that have to be tackled by EU institutions, as they were exposed as theweakest part of the UCITS framework during the financial crisis. Performance

EuroFinUse is very pleased that MEP Pervenche Beres’ amendments on PRIPs match our demands in relation to the inclusion of shares and bonds and other bank savings products, life insurance products as well as the disclosure of inducements paid by the provider to the seller. Press Release

After the 2023 AGM season and looking ahead to the 2024 season, BETTER FINANCE and its member organisations voice concerns about the erosion of shareholder rights. Inadequate rules for Virtual Annual General Meetings (AGMs) in some Member States highlight the need for broader engagement and representation frameworks for investors to truly benefit from digitalisation. The

In a recent Financial Times article, Guillaume Prache, Senior advisor at BETTER FINANCE, criticizes the use of Article 8 funds in sustainable investing. He argues that increasing the minimum sustainable investment percentage in these funds is ineffective and prone to greenwashing. These funds often oversimplify sustainability as mere ‘green activities’ and predominantly use an exclusion

BETTER FINANCE, alongside other NGOs, urges members of the Economic and Monetary Affairs Committee to ensure that the new ESG Regulation improves the reliability, comparability and transparency of ESG Ratings in the EU and in particular to: 1. mandate ESG ratings to follow a double materiality approach, therefore taking into consideration companies’ exposure to ESG

BETTER FINANCE members UK Shareholders’ Association and ShareSoc (UK Individual Shareholders Society) published a letter expressing disappointment in the news that the UK government is abandoning some of its reforms to accounting standards: It is difficult to overstate the disappointment of investors, and other users of corporate information, at the news that the UK government

BETTER FINANCE welcomes the horizontal and vertical dimensions represented in the objectives of the taxonomy. Furthermore, we would like to suggest expanding the horizontal dimension based on the promotion of gender equality which should not be based only on the gender pay gap but also on freedom of expression, assembly, etc.

Retail investors are increasingly concerned about the impact of their investment decisions on society and the environment. In recent years, European Union (EU) institutions have amended the legislation regarding the distribution of retail investment products by investment firms–the Markets in Financial Instruments Directive (MiFID II)–and related delegated legislation and guidelines to define how investment firms

10 February 2023 | As EU policymakers continue their negotiations on the MiFIR review, BETTER FINANCE is increasingly alarmed that the regulation could severely hurt retail investors, by putting in place a market structure further benefitting dark Systematic Internalisers (SIs). Ignoring the previous plea from BETTER FINANCE and going against the interests of retail investors,

The practice of greenwashing, or marketing a product as environmentally friendly, when in fact basic environmental standards have not been met, can take many forms including misleading labels and unsubstantiated/vague claims, meaningless catchwords, etc. with the aim of making a product or company seem greener and more socially responsible than it really is, amounting to

BETTER FINANCE answer ESMA Call for Evidence with regards information from market participants and map the state of play with regards to the implementation of the SRD2/SRD II provisions on the identification of shareholders, transmission of information and facilitation of exercise of shareholder rights, as well as on the transparency of proxy advisors.

BETTER FINANCE welcomes the European Commission’s call for evidence on retail investor protection but questions the efficiency of the exercise as it seems to duplicate efforts and it is not focused on all key areas of concern for individual, non-professional (“retail”) investors.

On 23 March, MEPs Isabel Benjumea and Stéphanie Yon-Courtin addressed the Global Money Week webinar on “Investor Education in times of High Inflation, Financial Repression & Market Volatility” jointly organised by BETTER FINANCE and EFAMA. Please find their respective full speeches below. Excerpts: Isabel Benjumea: “Investor education is a key tool for the completion of

BETTER FINANCE wishes to stress that providing EU citizens with a really safe PEPP is critical for their future pension adequacy. However, despite BETTER FINANCE’s repeated warnings and meetings with representatives of the EU citizens at the Parliament, the ECON committee today decided to adopt a capital “protection” scam for the “basic PEPP” which is

BETTER FINANCE wishes to stress that providing EU citizens with a really safe PEPP is critical for their future pension adequacy. It is happy to see that the MEPs approved some of the improvements for pension savers it has been supporting, such as: the collective redress provision, the right for independent saver associations to subscribe

European parliamentarians have been urged not to back any draft of the revised IORP Directive requiring full funding of pension fund liabilities; ahead of a crucial vote to decide the chamber’s final negotiating position. The call comes ahead of a vote by the European Parliament’s Economic and Monetary Affairs Committee (ECON), which is set to

A recent conference on the role of the asset management was held at the European Parliament. Politicians and consumer rights groups offered analysis on the added value active managed funds offer investors. Sven Giegold, a Green MEP, suggested that asset management companies have over charged investors and failed to offer investors value. The consensus of

On Wednesday, September 14, the packaged retail and insurance-based investment products (PRIIPs) draft legislation, was rejected overwhelmingly by MEPs. PRIIPs was developed to help investors but MEPs declared that the draft legislation was “flawed and misleading”. PRIIPs will now be sent back for revision at the EU Commission.   Whereas this delay is bad news

On September 23 MEPs from the Parliament’s Economic and Monetary Affairs Committee met together with European Central Bank President Mario Draghi to debate the EU’s current priorities on the financial agenda including the banking union. Up for discussion were the practical details of setting up a single bank resolution system and fund, the upcoming bank balance

The European Federation of Financial Services Users calls on the Members of the European Parliament to put an end to performance fees of investment funds being only a one-way street, benefitting only providers and to the detriment of retail investors. It is fine to link fund managers’ commissions to performance, but to be fair with

On Monday November 17, ECB President Mario Draghi met with Members of the European Parliament (MEPs) active in the Economic and Monetary Affairs Committee (ECON). While pleased with the credit-easing measures package, planned purchase of covered bonds and asset-backed securities by the ECB as well as with the progress in terms of the emerging Banking

In November 2011, concerns over the “domination” of  the European Commission expert groups by business interests led the European Parliament to freeze the budget for expert groups. In September 2012, the Parliament released the budget on the understanding that expert groups would significantly improve based on conditions set by the EP which would ensure that MEPs and the Commission would work

BETTER FINANCE welcomes and supports EIOPA’s ongoing work on a supervisory toolkit to assess the value for money offered by unit linked and hybrid insurance products. Since its creation, BETTER FINANCE has been fighting for regulatory and supervisory action to improve the returns of long-term and pension saving products. As BETTER FINANCE research shows, high

BETTER FINANCE endorses the FSUG’s call for improved ‘Value for Money’ in retail investments. The focus is on enhancing the effectiveness of packaged retail and insurance-based investment products (PRIIPs) to contribute significantly to investors’ financial well-being. The FSUG emphasises the responsibility of product manufacturers to design products that boost investors’ financial wealth and urges supervisors

The Financial Services User Group (FSUG) welcomes the ongoing legislative and supervisory works aiming to improve the ‘Value for Money’ that retail investors obtain from their packaged retail and insurance-based investment products (PRIIPs). The FSUG argues that ensuring retail investment products are effectively designed to increase the financial wealth of investors should be amongst the

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