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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,

Explanations A differential pricing mechanism in insurance contracts describes a practice by which an insurance company adapts the cost or price of the product/service on considerations other than the expected risk premia or estimated expenses. Put simply, prices will reflect how proactive or passive a client is (shop around or not) rather than the risk

BETTER FINANCE welcomes the Delegated act obligations for certain large undertakings to publish non-financial information. The rules set out in the delegated act clarify and allow for the translation of the technical screening criteria of the Climate Delegated Act (and the future Environmental Delegated Act) into quantitative economic performance indicators that will need to be

Back in November 2017 we formed an Alliance to voice our disappointment with the European Commission’s proposal for the review of the European Supervisory Authorities (ESAs), and to make proposals to remedy the situation. The Alliance reiterated its main concerns in a joint statement in July 2018, following the report on the review by the

BETTER FINANCE welcomes the initiative of the European Commission (EC) to review the non-financial reporting directive. Currently, there are significant problems regarding the non-financial information disclosed by companies pursuant to directive 2014/95/EU. The review should enable a strong alignment with the taxonomy regulation and its technical standards which include thresholds and metrics. It is also

The EU’s nascent sustainable funds label has been amended after being described as ‘too ambitious and not achievable’ […] The Ecolabel is an existing EU certification awarded to a range of products which meet high environmental standards aimed at end consumers. The scheme is being extended to include financial products for the first time to

BETTER FINANCE welcomes the update of the non-binding guidelines on non-financial reporting as a crucial step toward achieving the Paris agreement and the Sustainable Development goals by reorienting capital flows to support a long-term sustainable and just economy. However, it also expresses some doubts about the effectiveness of these requirements due to their not binding nature

On Thursday 28 June, the European fund and asset management industry body issued a press release stressing the worrying shortcomings of the rules governing the Key Information Documents (KID) for Packaged Retail and Insurance-based Investment Products (PRIIPs). This follows the publication of its Evidence Paper that found that the new methodology for calculating transaction costs

On Thursday 28 June, the European fund and asset management industry body issued a press release stressing the worrying shortcomings of the rules governing the Key Information Documents (KID) for Packaged Retail and Insurance-based Investment Products (PRIIPs). This follows the publication of its Evidence Paper that found that the new methodology for calculating transaction costs

Based on the famous Agatha Christie scenario, this tale takes place in Brussels at the heart of the Financial Institutions instead of the Orient Express. The story stems from a European regulatory initiative to neutralize the banks ‘at risk’ during a financial crisis and avoid a repeat of 2008. In 2014,  during Michel Barnier’s (European

DWS, a German asset manager, has settled with the U.S. Securities and Exchange Commission (SEC) for $19 million. This settlement is over greenwashing allegations and is the SEC’s highest penalty related to environmental, social, and governance (ESG) criteria against an investment adviser. An additional $6 million penalty was imposed for anti-money laundering violations, totaling $25

BETTER FINANCE expresses concern over Deutsche Bank’s disclosure of missing Russian shares. The bank recently revealed a shortfall in the shares underlying depositary receipts (DRs), further increasing the challenges for European investors seeking to recover their investments in Russian listed companies, especially individual non-professional ones. DRs are used in international stock trading as a means

The European Commission today published its long-awaited proposal on the digital euro, marking a significant milestone in the digitalisation of public money. The document sets the stage for a democratic debate, as the project moves from its investigation phase by the European Central Bank to the chambers of the European Parliament and the Council. Cash,

The European Commission published a legislative proposal for a regulation on European green bonds, which is supposed to become the high quality voluntary European Green Bond Standard. Its intention is to use the potential of the single market for achieving the EU’s climate and environmental goals in a more efficient way.

There is a growing wave of ESG regulation and an increasing need for ESG reporting – nationally, regionally and internationally. In Europe, ESG rating and data providers are indicative of an immature but growing market, which has seen the emergence of a small number of large non-EU headquartered providers.

The International Financial Reporting Standards (IFRS) created the International Sustainability Standards Board “to provide the global financial markets with high-quality disclosures on climate and other sustainability issues.” As part of its work, the ISSB published two exposure drafts on climate-related disclosures and geenral requirements for disclosure of sustainbility-related financial information.

The Corporate Sustainbility Reporting Directive mandates for the creation of European Sustainability Reporting Standards (ESRS), which require companies in scope to report on a full range of sustainbility information (environmental, social and governance). EFRAG is expected to deliver its final draft ESRS to the European Commission in November 2022. The standards are aimed at ensuring

It is part of an initiative first mooted in the Commission’s September 2020 Capital Markets Union Action Plan and designed, among other things, to “increase consumer participation in capital markets.” The the level of retail investor participation in EU capital markets remains very low. The strategy is aimed to ease difficulties for retail investors in

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

The document serves as BETTER FINANCE response to selected questions of ESMA’s discussion paper on the implications of digitalisation for investor protection under MiFID II. The document “Discussion Paper on MiFID II investor protection topics linked to digitalisation” provided by the European Securities and Markets Authority (ESMA) focuses on various aspects of digitalisation in the

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

BETTER FINANCE is pleased to announce the appointment of Professor Barbara Alemanni, a specialist in behavioural finance and one of the four academic members of the European Securities and Markets Authority’s Securities and Markets Stakeholder Group, to the BETTER FINANCE Scientific Council.   ⬇️ Read or download the full press release below. ⬇️

Today, BETTER FINANCE, the leading advocate for European citizens as investors, savers, shareholders, and financial services users, unveils its manifesto ahead of the upcoming European Union elections in June 2024. Entitled “Sustainable Value for Money: Reconciling Individuals, Enterprises & The Planet,” the manifesto calls for a renewed emphasis on better outcomes for consumers, long-term investment,

The Sustainable Finance Disclosures Regulation (SFDR) started applying in March 2021 and requires financial market participants and financial advisers to disclose at entity and product levels how they integrate sustainability risks and principal adverse impacts in their processes at both entity and product levels. It also introduces additional product disclosures for sustainable financial products making

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

BETTER FINANCE is pleased to announce a new collaboration with SASV (Schweizerischer Anlegerschutzverein), the Swiss Investor Protection Association, further expanding its pan-European network. SASV is dedicated to promoting transparency within the Swiss capital market and advancing investor rights. This partnership with BETTER FINANCE aims to bolster the representation of Swiss individual investors and shareholders on

Brussels, 14 December 2023 – On December 11th, the BETTER FINANCE Scientific Council convened to discuss next year’s research program and to elect a new chairperson. The Council recommended that BETTER FINANCE continues to build on the extensive research conducted by the team and expressed support for the 2024 research program, including further research on

The Lithuanian Investors Association and BETTER FINANCE, the European Federation of Investors and Financial Services Users, are organising the annual BETTER FINANCE International Investors’ Conference, scheduled to take place in Vilnius on May 30, 2024. The conference, titled “Vilnius 2024 | Shaping the Future of Finance,” will delve into various topics encompassing European and Baltic

The financial crisis has taught regulators to make the banking system safer. As a result, banks are being pushed out of riskier areas of activity and are required to hold more capital. Britain is discussing details of reforms aiming at imposing losses on bank bond holders as opposed to taxpayers. This means that many borrowers

BETTER FINANCE finds that commission-based distribution models (kickbacks) cost individual investors up to 15% of their investments in sales commissions and generate conflicts of interest which severely hurt their performance. One of the main objectives of the European Commission’s “EU Strategy for Retail Investors” is to “ensure bias-free advice” for individual investors. It is meeting

For the ninth year in a row, BETTER FINANCE embarked on the herculean task of gathering all the data on long-term and pension savings in 17 EU Member States and published its annual report on the real net returns of long-term and retirement savings. Unfortunately, the “Real Return of Long-Term and Pension Savings” Report remains

“It is the innate conservation of the people that has kept our money good in spite of the fantastic tricks which financiers play – and which they cover up with high technical terms. The people are on the side of sound money. They are so unalterably on the side of sound money that it is

Mark Carney, the governor of the Bank of England, surprised friend and foe by openly criticising financial capitalism at a conference on inclusive capitalism on May 27th. Mr Carney, like many central bankers that were cornered into bailing out banks, acknowledges that the financial sector bears a large part of the responsibility for the financial

On the first of November, shortly  after the Royal Bank of Scotland had suspended two traders in connection with the Financial Conduct Authority’s investigation into the manipulation of foreign exchange rates, Barclays suspended six of its own traders. The probe into these allegations intends to clarify whether traders colluded to artificially influence crucial benchmarks in