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02/11/2016
 

Better Finance response to the EC's public consultation on a potential EU personal pension framework (Part B2 - Consumer Organisations)


The consultation will help the Commission analyse the case for an EU personal pension framework. It builds on previous consultations launched by the Commission and EIOPA on personal pensions, but increases their scope. In July 2012 and in 2014, the European Commission asked EIOPA to develop technical advice on an EU Internal Market for personal pension schemes or products. The Commission sought advice in particular on the cross-border, prudential regulation and consumer protection measures that would be required to develop an EU single market for personal pension schemes. EIOPA has responded to those requests and favoured the creation of a harmonised legal framework for a Pan-European personal pensions market. The Commission, in this consultation, aims to build on that advice and widen the range of possible options and stakeholders consulted. Better Finance provided its views on a PEPP in this important consultation.

Categories: positions, Pensions
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Better Finance
Better Finance
 
 
 
 
 
12/10/2016
 

EC CONSULTATION ON THE CMU ACTION ON CROSS-BORDER DISTRIBUTION OF FUNDS


The remaining barriers to cross-border distribution are varied – and may include the impact of concentrated fund distribution channels in individual member states, cultural preferences for funds managed in investors’ home states, and a lack of incentives for managers to compete cross-border. However, one obstacle that has been consistently cited, and which may be relatively more important for smaller managers, are the regulatory barriers to distribution. Regulatory barriers have been identified in response to the Capital Markets Union green paper and to the Call for Evidence on the EU Regulatory Framework for Financial Services as including burdensome registration procedures, costly and diverse marketing requirements, inconsistent administrative arrangements and tax obstacles. Eliminating unjustified barriers would support fund managers to engage more in cross-border marketing of their funds, increase competition and choice, and reduce costs for investors. The Commission is seeking further details and evidence from stakeholders including fund managers, investors and consumer representatives in order to understand where and how the cross-border distribution of funds could be improved.

Categories: positions, Financial Markest Infrastructure
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Better Finance
Better Finance
 
 
 
 
 
12/10/2016
 

Response to MEP Sven Giegold's Consultation on Mis-selling of Products


Better Finance of course shares the view of MEP Sven Giegold that financial markets must serve consumers and end-users, and welcomes the European Parliament’s ECON Committee focus on the mis-selling of financial products. Better Finance experiences that the mis-selling of saving and investment products is a major issue of enforcement and supervision as several key EU regulatory provisions regarding retail investor and saver protection are not properly enforced, especially key MiFID ones

Categories: positions, Investment
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Better Finance
Better Finance
 
 
 
 
 
31/05/2016
 

Better Finance Response to the Public Consultation Transparency Register


Better Finance responded to the European Commission's consultation on the performance of the current Transparency Register for organisations and self-employed individuals engaged in EU policy-making and policy implementation and on its future evolution towards a mandatory scheme covering the European Parliament, the Council of the EU and the European Commission.

Categories: positions
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Better Finance
Better Finance
 
 
 
 
 
29/04/2016
 

Public consultation on non-binding guidelines on methodology for reporting non-financial information


The purpose of this public consultation is to collect information and views from stakeholders on guidance on reporting of non-financial information by companies across all sectors. At this time, it is premature to prejudge what form the guidelines should take. This will depend on the outcome of this consultation. The guidelines should be relevant and useful across all economic sectors, and cover appropriately general principles, methodology, and non-financial key performance indicators. In providing their input to this consultation, stakeholders are invited to consider the companies and groups concerned under Article 1 of the Directive. The new disclosure requirements relating to non-financial information apply to large public-interest entities with more than 500 employees. The concept of public-interest entities is defined in Article 2 of Directive 2013/34/EU, and includes companies listed in EU markets as well as some unlisted companies, such as credit institutions, insurance companies, and other companies that are so designated by Member States because of their activities, size or number of employees.

Categories: positions
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26/04/2016
 

Better Finance reply to EIOPA PPP consultation


Whilst Better Finance welcomes EIOPA’s consultation on PPPs, we wish to make clear that this is only a second best option compared to the much more preferable and effective Pan-European Personal Pension product approach (PEPP). We doubt that any meaningful harmonisation of the myriads of PPP regulatory regimes within the EU could happen any time soon. But the pension issue is a ticking time bomb of tremendous magnitude, so time is of essence, and no further delay should be allowed for the completion of a common market for personal pensions in the EU. Only a PEPP approach can achieve this.

Categories: positions, Pensions
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Better Finance
 
 
 
 
 

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The latest edition of our report on Pension Savings is now available for download!

 

 

 

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