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04/06/2018
 

AT LEAST 619 UCITS EQUITY FUNDS FOUND IN BREACH OF KEY EU DISCLOSURE RULES AS POOR ENFORCEMENT PROSPERS IN SEVERAL KEY COUNTRIES


Renewed research by BETTER FINANCE finds that at least 30% of the main actively managed UCITS equity funds (those with a ‘fund benchmark’ ) still do not comply with key disclosure requirements for benchmarks as stipulated in EU Rules. In the face of persistent poor enforcement in our view in some major fund domiciles, BETTER FINANCE sees no other way but to name the perpetrators and failing jurisdictions it identified.

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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
24/05/2018
 

PAN-EUROPEAN PERSONAL PENSION PRODUCT: BETTER FINANCE AND EUROPEAN PARLIAMENT STRIVE TO ENSURE EU SAVERS GET AN ADEQUATE PENSION


BETTER FINANCE welcomes the proposed amendments from the EP rapporteurs and shadow rapporteurs as a step in the right direction towards a simple and safe PEPP that could regain the trust of EU citizens. Several key amendment proposals by BETTER FINANCE have been taken on board by the EP rapporteurs and shadows for the Committee on Economic and Monetary Affairs (ECON), the Committee on Employment and Social Affairs (EMPL) and the Committee on Internal Market and Consumer Protection (IMCO).

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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
25/04/2018
 

The EC Study on Retail Investment Products Confirms a Dire Need for Simple Investment Products, More Transparency on Performance and Costs and Independent Comparison Tools


BETTER FINANCE thanks the EC for releasing this long awaited but very necessary study on the main source of funding of the EU economy, which for this reason has also been identified as a top priority of the “Capital Markets Union” Initiative of the EU. The study draws a grim picture detailing the obstacles retail investors face when seeking financial advice or wanting to buy an investment product.

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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
18/04/2018
 

SHAREHOLDERS RIGHTS DIRECTIVE IMPLEMENTING ACTS LAST CHANCE TO ENSURE RIGHTS OF INDIVIDUAL SHAREHOLDERS TAKEN INTO ACCOUNT


Over the last few years, the European Union (EU) has been trying to facilitate the exercise of shareholders’ rights by updating the Shareholder Rights Directive (SRD II). The revised Directive itself unfortunately only provided limited improvements to shareholders rights as important barriers to cross-border shareholder engagement within the EU remain in place.

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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
17/04/2018
 

‘NEW DEAL FOR CONSUMERS’ – AN IMPORTANT BREAKTHROUGH FOR MANY FINANCIAL SERVICES USERS BUT NOT FOR EU CITIZENS AS INDIVIDUAL SHAREHOLDERS


Many financial services providers already operate across borders in different Member States. Like for other sectors, the case for EU-wide collective redress for financial services is clear and in the interest of EU citizens as retail investors and pension savers. Over the years there have been numerous mis-selling scandals in the financial services industry that have harmed individual investors. In many of these cases the lack of collective redress mechanisms prevented victims from seeking compensation for losses and damages suffered.

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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
21/03/2018
 

BETTER FINANCE WELCOMES THE SUSTAINABLE FINANCE ACTION PLAN BUT WARNS THE COMMISSION AGAINST ITS PLANS REGARDING TAXONOMY, BENCHMARKING AND AN ECO-LABEL


As pointed out at several occasions by BETTER FINANCE , EU citizens as savers are by nature mostly long-term driven, evidenced by the fact that 67% of their total assets are deployed in long-term investments (versus only 37% for pension funds - despite their purely long-term horizon - and 10% or less for insurers), and their main saving goals are long-term (retirement, housing, children’s studies, transmission of wealth, etc.). For these reasons EU citizens as savers have a great need for “sustainable finance” products. Therefore, BETTER FINANCE strongly supports Actions 4 and 7 which should ensure that sustainability preferences of long-term and pension savers are taken into account in the suitability assessment.

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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 

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