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08/05/2018
 

BETTER FINANCE Feedback on a Directive amending MiFID II regarding Crowdfunding services


BETTER FINANCE agrees that in order to avoid legal uncertainty and the multiplication of legal requirements for crowdfunding platforms, MiFID II should not apply to crowdfunding providers who have been authorized as crowdfunding providers under the ECSP.

Categories: positions, Investment
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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
08/05/2018
 

BETTER FINANCE-Feedback on a directive on representative actions for the protection of collective interest of consumers FINAL 7.05.2018


An EU-wide collective redress mechanism for all financial services users such as savers, retail investors, life insurance policy holders, pension fund participants, small and individual shareholders or employee shareholders is more than needed. The right to redress and the right to access to justice is especially important in the area of financial services as financial products have a serious impact on the quality of life of active and retired citizens. Moreover, financial products are often technical and complex making it very difficult for users to even evaluate the extent of their detriment.

Categories: positions, Consumer Affairs
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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
08/05/2018
 

BETTER FINANCE s feedback- IR on minimum requirements in the transmission of information for the exercise of shareholders rights


BETTER FINANCE congratulates the Expert Group on Technical Aspects of Corporate Governance Processes for their work. The Implementing Regulation (IR) takes important steps towards facilitating cross-border voting and ensures a harmonised application of its requirements which reduces the risk of fragmentation across Member States. Even though it was not within the remit of the IR to tackle the shortcomings of SRD II itself, it seeks to address some of the issues at hand.

Categories: positions, Securities Law
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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
 
 
 
 
 
09/03/2018
 

BETTER FINANCE’s answer to the European Commission Fitness Check on Public reporting by companies


As a general comment, BETTER FINANCE believes that the current legislative framework regarding the reporting on ESG should be reviewed to introduce more standardisation in the disclosure process. Under the current legislative framework, public reporting of companies on ESG and particularly on social and governmental issues does not reflect the right picture as regard sustainability disclosure.

Categories: positions, Corporate Governance
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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 

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