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26/09/2012
 

MiFID


According to the final text, inducements can be freely placed from providers to financial advisers. Certain inducements will not even have to be disclosed to the client anymore, as long as “they enable the provision of the service and they do not give rise to conflict with the firm’s duties to act honestly, fairly and professionally”. This is clearly insufficient to tackle the underlying conflict of interest that continue to exist due to the commercialization of retail financial products. Guillaume Prache, Managing Director of EuroFinuse, sees "this as a worsening of the situation for retail investors in comparison to the first MiFID".

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Guillaume Prache
EuroFinuse
 
 
 
 
 
25/09/2012
 

Audit Reform


EuroFinuse strongly opposes the weakening of this key reform by the European Parliament’s Draft Report on the proposed Regulation and Directive published on 4 September. Regulatory interventions are crucial to restore confidence in the audit market. EuroFinuse therefore mainly advocates for: ”¢ Mandatory tendering every 5 years; ”¢ Mandatory rotation every 15 years; ”¢ Inclusion of UCITS, Alternative Investment Funds, Investment Firms, payment institutions and electronic money institutions under the scope of the Audit Regulation; ”¢ Approval by the Audit Committee and disclosure to shareholders in the General Assembly of the provision of non-audit services by statutory auditors.

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Guillaume Prache
EuroFinuse
 
 
 
 
 
21/09/2012
 

EuroFinuse Ljubljana Declaration 2012


The General Assembly meetings of EuroFinuse and Euroshareholders held on 21.09.2012 in Ljubljana, together with the “EuroFinuse International Conference on Financial Education”, hosted by VZMD , have agreed to merge EuroFinuse, the European Federation of Financial Services Users with Euroshareholders, the umbrella organization of national shareholder associations across Europe, to provide adequate representation of all individual investors, savers and other financial services users vis-à -vis the European authorities.

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Guillaume Prache
EuroFinuse
 
 
 
 
 
03/07/2012
 

PRIPS - Packaged Retail Investment Products


CFA Institute, EuroFinuse,FECIF, EFAMA, and AILO,welcome the focus of the European Commission on investor protection through the publication this week of three pieces of legislation: the Packaged Retail Investment Products (PRIPs) regulation, the revised Insurance Mediation Directive (IMD) and the Undertakings for Collective Investments in Transferrable Securities V (UCITS)Directive. These are essential in addressing crucial issues of investor protection and together with Markets in Financial Instruments Directive (MiFID), the lack of a level playing field in the distribution of retail financial products across the European Union (EU). We, therefore, call on EU Institutions to ensure that this new legislation achieves its primary objective: to effectively protect European retail investors.

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Guillaume Prache
EuroFinuse
 
 
 
 
 
03/02/2011
 

MiFID Review - The European equity markets fragmentation has penalized small investors


The European MiFID Directive in force since November 2007 has pushed the European equity markets to fragment into multiple “trading platforms”: besides the existing “regulated markets” (RMs) “multiple trading Facilities” (MTFs) and “Systematic Internalisers” (SIs) - not to mention a growing, diverse and opaque “OTC” (over the counter) trade activity or dark pools - are now trading European equities.

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EuroFinuse
 
 
 
 
 
30/09/2009
 

La premiere alliance europeenne de tous les epargnants


Pour la première fois, toutes les catégories d’épargnants (actionnaires individuels, souscripteurs de fonds de placement (OPCVM), assurés vie, épargnants bancaires, participants des fonds de pension et autres utilisateurs de services financiers) se sont rassemblées pour créer la Confédération européenne des Epargnants - EuroInvestors.

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Guillaume Prache
EuroFinuse
 
 
 
 
 

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