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BETTER FINANCE welcomes the FCA’s proposal on consumer duty. We consider the general duty of care to be at the core of investor protection in securities markets. In fact, in the BETTER FINANCE report on “Sustainable Value for Money”, BETTER FINANCE and the CFA Institute embarked on a project to analyse what industry and consumer

Already back in 2014 BETTER FINANCE denounced the practice of closet indexing. It launched a campaign against those funds that claim to be “actively” managed but that are in fact merely following market indices, although they charge much higher fees than low cost index-tracking funds such as ETFs. The distribution of such funds as “active”

Wanda Goldwag, the new chairwoman of the UK regulator’s Financial Services Consumer Panel has spoken about a “plethora” of products in the market that consumers do not understand, and advisers fail to properly explain. The panel was created in March, with the aim of advising the Financial Conduct Authority (FCA) on the interests and concerns

The Financial Conduct Authority (FCA) received 1,335 notifications of inaccurate reporting on the transaction under the Markets in Financial Instruments Directive (Mifid II) in 2018. The figures have been published by regulatory consultancy Bovill, and only covered those companies that were aware that they breached the new reporting requirements and thus reported themselves to the

The Financial Conduct Authority (FCA) is considering either banning or capping exit fees charged by investment platforms. Christopher Woolard, executive director of strategy and competition at the FCA noted that even though the platform market is working well, it needs to be less expensive and time-consuming. According to him, restricting exit fees would make it

As representative of investors and financial services users, BETTER FINANCE has raised concerns regarding the PRIIPs KID legislative framework in terms of investor protection and in particular the fact that standardised, easily comparable and long-term past performance data (of both the product and its chosen benchmark) are eliminated under the PRIIPs delegated regulation. The elimination

Answering to the FCA’s (Financial Conduct Authority) review of the UK’s asset management industry, Morningstar (an Investment Research and Management Firm) asked the UK Financial Watchdog to set stricter rules on the disclosure of fund management fees.  According to Morningstar “a five-year figure of total fund costs would give a more reasonable statement of the

The interim head of the Financial Conduct Authority (FCA), Tracey McDermott, has been criticised by financial reform campaigners for envisaging a return to the days of commission-driven sales of financial products. A set of regulatory changes known as the Retail Distribution Review (RDR) was introduced in 2014 obliging financial advisers to charge upfront fees for

The UK’s Financial Conduct Authority (FCA) is considering introducing pay and clawback measures for all regulated companies including the 2100 FCA-supervised fund groups.  The UK’s financial services watchdog response follows the Bank of England’s similar proposal last month to force bankers to repay bonuses up to six years after they have received them if misconduct, risk management failures or heavy financial losses are demonstrated.

In March 2015, the FCA launched the Asset Management Market Study with the purpose of increasing transparency on charges, eliminating conflicts of interests and restoring savers’ trust in the asset management industry.  Following two years of investigation, the Financial Conduct Authority (FCA) concludes that asset managers must overhaul their charging structures and improve their governance

EuroFinUse participates to the workshop organised by the European Commission, DG Internal Market and Services on ‘Crowdfunding: Untapping its potential, reducing the risks’ on 3 June 2013. Questions will address Crowdfunding in Europe: What drives its growth and what are the obstacles to it? Can it help to fill the financing gap for small firms

PRIIP Key Information Document – A regulation to enable investors to compare financial products and make informed decisions

Effective date: January 10, 2024 Update privacy preferences BETTER FINANCE ("us", "we", or "our") operates the https://betterfinance.eu website (the "Service"). This page informs you of our policies regarding the collection, use, and disclosure of personal data when you use our Service and the choices you have associated with that data. We use your data to

World Investor Week (WIW) is a week-long, global campaign promoted by IOSCO to raise awareness about the importance of investor education and protection and highlight the various initiatives of securities regulators in these two critical areas. From 2-8 October 2017, IOSCO securities regulators and other IOSCO members on six continents will provide a range of

Following the Workshop on Crowdfunding organized in June 2013, attended by Guillaume Prache of EuroFinUse, the European Commission launched a consultation inviting stakeholders to share their views about Crowdfunding. This emerging alternative form of financing removes the middleman by pooling small amounts of capital from a large number of individuals and putting these investors in

EuroFinUse published a position paper on Crowdfunding, a very important emerging trend in financial services. Financial services users, savers and retail investors are not opposed to innovation, particularly with regard to the emergence of Crowdfunding, which could actually dramatically improve the delivery of retail financial services, provided the EU regulators find an adequate user protection

XI International Convention of Independent Financial Advisers (CIFA) Forum on 24th to 26th April 2013  in Monaco. The Forum aims at tackling the overarching question if the world banking system can be reformed. A variety of panels, seminars and workshops are foreseen over the two days event, and EuroFinUse will represent the point of view

The European Commission proposed a regulation to establish an EU programme to support two non-profit organisations, Finance Watch and BETTER FINANCE, for the 2017-2020 period. The programme’s overall budget will amount to a maximum of €6 million during that period, with a maximum 60% co-funding rate. Thanks to these EU grants, BETTER FINANCE will be

Financial products and services in Europe have a bad rep. Not only do “investment products, private pension and securities” persistently rank as the worst of all 31 consumer markets according to the annual EU Consumer Scoreboard1, these markets also lag considerably behind others in terms of cross-border trade, thereby severely limiting competitiveness. In short, financial

EuroFinUse welcomes the workshop organized by the European Commission on this very important emerging trend in financial services. EuroFinUse also thanks the Commission to invite a retail user representative to the speakers table. Financial services users, savers and retail investors are not opposed to innovation, particularly with regard to the emergence of Crowdfunding, which could

BETTER FINANCE is happy to announce that The European Banking Authority’s Banking Stakeholder Group (BSG) selected one of its previous vice-chairs, Alin Iacob, to join the BSG again. Alin Iacob is the Chairman of the Association of Romanian Financial Services Users (AURSF). AURSF has been a member of BETTER FINANCE, the European Federation of Investors

Brussels, 20 July 2020 – The new composition of the European Supervisory Authorities’ (ESAs) “Stakeholder Groups” is a step backwards with regard to a balanced representation between industry and consumers in EU financial rulemaking. This is the result of the recent ESAs reform, which reduced the quotas for consumers and academics in favour of financial

The asset management industry frequently complains about the fact that they face more and more regulation, that they are under pressure from passive managers and clients and that technological progress increases competition. One would start to wonder if there are any perks to the job at all. What they deliberately fail to mention are the

Brexit has begun to create a shift of financial regulation within Europe. With the resignation of Britain’s EU Commissioner in charge of financial services, Jonathan Hill, Britain is seeing its influence within Europe dissolve. During an interview with the FT, Lord Hill discussed the shift of power that will affect British financial institutions and the

The Sustainable Finance Disclosures Regulation (SFDR) started applying in March 2021 and requires financial market participants and financial advisers to disclose at entity and product levels how they integrate sustainability risks and principal adverse impacts in their processes at both entity and product levels. It also introduces additional product disclosures for sustainable financial products making

BETTER FINANCE members UK Shareholders’ Association and ShareSoc (UK Individual Shareholders Society) published a letter expressing disappointment in the news that the UK government is abandoning some of its reforms to accounting standards: It is difficult to overstate the disappointment of investors, and other users of corporate information, at the news that the UK government

Factors influencing the number of new listings/IPOs in Sweden Paper presented to the Policy Committee of ecoDa, January 2022                                                                                                                   According to the EU Commission’s report “Primary and secondary equity markets in the EU” Sweden has had a unique development of the number of new listings/IPOs between 2010 and 2018 compared to all other member

BETTER FINANCE welcomes the European Commission’s WHT FASTER Proposal that has to potential to bring procedural progress in addressing longstanding obstacles to tax recovery for investors dealing with their cross-border investment income. We applaud an EU-wide framework to streamline withholding tax (WHT) refund modalities under common reporting, and support its digitalisation addressing the current hurdle

‘The Value of Financial Advice’ is an upcoming conference organized by Nordic Finance and the Good Society in Frederiksberg, Denmark. A number of esteemed keynote speakers from academia and the financial services sector will share their insights on the role of financial advice for financial decision-making. Register here.

The European Commission has issued the Delegated Act on the European Sustainability Reporting Standards (ESRS) under the Corporate Sustainability Reporting Directive (CSRD) to enhance transparency in sustainability reporting by companies. However, it faces criticism for weakening key aspects of the initial proposal by the European Financial Reporting Advisory Group (EFRAG) and neglecting vital concerns. Critics

BETTER FINANCE is pleased to announce that, after nearly 10 years at BETTER FINANCE, Arnaud Houdmont is taking on more responsibilities as Director of Communications. In his new role as Spokesperson for BETTER FINANCE, Arnaud will make sure the voice of all European citizens as savers, investors and financial services users, is heard loud and

BETTER FINANCE is excited to announce the launch of its much-needed “Gateway to Responsible Investing”, responding to the lack of independent, transparent and clear information on how to invest in a climate-aligned and sustainable way! Besides providing educational information on matters such as ESG, impact investing and greenwashing, the gateway also provides tools for first-time

With the termination of the intra-EU bilateral investment treaties (BITs) in 2020 – which received significant criticism for overlapping with the EU single market rules – the EC launched an initiative to improve the investor protection and facilitation framework at EU level. This initiative was reiterated in the new Capital Markets Union (CMU) Action Plan

The BETTER FINANCE team As an association of national member organisations, BETTER FINANCE is supported by a small professional Brussels-based team and our friends on Facebook and LinkedIn. New members and supporters are always welcome to get involved. Our team consists of finance professionals, lobbyists and communication specialists who carry out the core activities of BETTER FINANCE. Managing Director, Aleksandra Mączyńska

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