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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.

Categories: press_releases
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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.

Categories: press_releases
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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
19/03/2018
 

BETTER FINANCE's answer to the Public Consultation on the Fitness check on supervisory reporting


As a general remark, BETTER FINANCE sees values in ESAs being empowered with the collection of data from market players. However, under the present framework, ESAs do not have the proper tools to easily and efficiently collect the data necessary to fulfil their role. In its answer to the Public Consultation on the operations of the ESAs of the European Supervisory Authorities, BETTER FINANCE already raised that ESAs should be empowered with ensuring that the provision of such data is independent and easily accessible to individual savers and investors. In particular, the ESAs have failed to report on the performance and fees of the retail financial products they supervise.

Categories: positions
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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
09/03/2018
 

BETTER FINANCE response to the Consultation Paper on draft RTS under the new Prospectus Regulation


As a representative of individual investors and savers, we believe that the main concern is to provide investors with clear and concise information in order to give them a true picture of the company’s financial health and prospects. As such, the RTS must represent a way to improve investors protection. They should ensure that the information produced and included in the Summary Prospectus is clear and relevant for the reader. To allow the investor to compare the different offers, the RTS should set up a standardized format of the Summary Prospectus while leaving some flexibility for companies so they can highlight to investors their distinct characteristics and features.

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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