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30/10/2018
 

Reservations regarding the proposed Market in Financial Instruments Act (ZTFI-1)


We are alarmed that for the second time in less than two years the Republic of Slovenia moves to curtail the options available to minority shareholders to mitigate the burden of costs imposed on them by financial intermediaries. Specifically, the proposed Paragraph 10 of Article 296 of the Market in Financial Instruments Act (ZTFI-1) targets the “Share SUPPORT” scheme of the Pan-Slovenian Shareholders Association (VZMD) by limiting the duration of fiduciary securities accounts of dedicated attorneys used by the “Share SUPPORT” scheme to 12 months. We assess that such additional restrictions will seriously jeopardise the prospects of minority shareholders in the Slovenian capital market.

Categories: open_letters
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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
19/07/2018
 

ECON’s draft report on the review of the European Financial Supervisors: disappointing for European NGOs and financial services users


On Tuesday 10th of July, the European Parliament co-rapporteurs published a disappointing draft report on the review of the European System of Financial Supervision : not only lacking any ambitious changes on the much needed reform of the governance model and funding of the European Supervisory Authorities (ESAs – EBA, ESMA and EIOPA), but even weakening some direct supervisory powers for ESMA proposed by the European Commission.

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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
24/11/2017
 

Proposal for the EU financial supervisory reform


Last September the European Commission published its proposal for the review of the European Supervisory Authorities (EBA, ESMA and EIOPA – ESAs). The aim is to reform the ESAs’ mandate, governance and funding to underpin the Capital Markets Union, the EU’s flagship project in the area of investments. As the major EU public interest organisations working on financial services, we want to stress we are extremely disappointed with this proposal.

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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
06/10/2017
 

Open Letter: "MiFID II rules for 'Systematic Internalisers' will hurt European investors"


In principle, European individual Investors welcome the introduction of the new Markets in Financial Instruments Directive (MiFID II). However, given BETTER FINANCE’s priority to ensure the protection of individual European savers and investors, we are concerned about the shrinking share of regulated securities markets in the EU, now down to around 50 % of transactions, compared to 67 % in the US and 88% in East Asia. Recent research reveals that the majority of OTC trades (58%) are retail-sized trades and that a significant part of the trades of European individual investors are now executed on these “dark” venues. Capital markets must remain fully open and transparent to individual investors.

Categories: open_letters
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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
25/05/2017
 

Banco Popular - AEMEC announcement


IMPORTANT ANNOUNCEMENT FOR ALL SHAREHOLDERS OF BANCO POPULAR: protect your investment in Banco Popular...

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AEMEC
AEMEC
 
 
 
 
 
09/05/2017
 

Open Letter to the European Commission on Closet Indexing


A PRIIPs Regulation that contradicts or fails to take into account disclosure requirements in other Directives and Regulations will simply add confusion for all stakeholders involved and significantly undermines investor protection. To bring these important issues to the attention the authorities, Better Finance wrote a letter to the European Commission’s Directorate General for financial stability, financial services and capital markets union (DG FISMA).

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Better Finance
Better Finance
 
 
 
 
 

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