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17/12/2012
 

EuroFinuse supports European Parliament rapporteur on the ban of performance fees for UCITS retail funds managers


EuroFinuse, the European Federation of Financial Services Users, is losely following the debate on the “UCITS V Directive” that is currently focusing on depositories’ liabilities and asset managers’ remuneration.

Categories: press_releases
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EuroFinuse
 
 
 
 
 
30/11/2012
 

EuroFinUse Response to the Third Pillar Retirement Products Questionaire


EuroFinuse is extremely concerned by the urgently needed development of second and third pillar pension products in the European Union, in view of the current restraints for welfare policies due to Member States' budgetary constraints. We believe that private pension products-related areas in the EU do not only lack of a necessary regulatory framework; but even lack clear definition, scope and classification. More specifically, we are very aware of the discrepancies between the different systems of classification (operational versus pillar-based) and we believe this is the first issue that should be tacked: one cannot regulate what is ill-defined.

Categories: positions
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EuroFinuse
 
 
 
 
 
29/11/2012
 

Consultation on the Regulation of Indices


EuroFinuse welcomes the consultation from the EC on the regulation of indices. Individual financial services users are indeed using indices a lot either willingly or unwillingly: As investors and savers - many retail investment products have their performance linked or benchmarked to indices; As borrowers - almost all variable rate loans have their interest rate linked to indices: LIBOR or EURIBOR in particular. While many of the questions raised by the EC are targeted at index providers and professional users, some are directly relevant to individual financial services users.

Categories: positions
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EuroFinuse
 
 
 
 
 
13/11/2012
 

Key Priorities 2012




Categories: key_priorities
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Guillaume Prache
EuroFinuse
 
 
 
 
 
13/11/2012
 

Impact of WTO rules on EU enhanced financial regulation


We call upon the European Commission, as representative of the European Union at the WTO, to support at the upcoming October 2012 Committee on Trade in Financial Services meeting the Ecuadorian proposal to discuss “progress in respect of macro prudential regulation and its relationship with GATS rules”.

Categories: open_letters
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Guillaume Prache
EuroFinuse
 
 
 
 
 
13/11/2012
 

Response to the EC Consultation on the recommendations of the Liikanen Group on reforming the structure of the EU banking sector


EuroFinuse agrees with the general recommendation of the Expert Group on the necessity of legal separation between risky financial activities from deposit-taking activities within a banking group. We agree as well that this separation should be aimed at protecting their socially most vital parts, which indeed are deposit-taking and those related to the provision of funding to the non-financial sectors of the economy. However, we consider that further consideration should be made on how this separation should be made. We doubt that the emphasis should be on separating the most volatile and risky part of the business from the retail part of banks. Instead we should focus on isolating the retail part of banking institutions and leave the rest of the activities outside the wall. This would reduce the incentives for the financial industry to lobby for keeping more risky or speculative parts of the business together with retail banking activities and consequently benefit from cheap funding for those activities that have no direct link with the real economy.

Categories: positions
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EuroFinuse
 
 
 
 
 

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