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BETTER FINANCE welcomes the horizontal and vertical dimensions represented in the objectives of the taxonomy. Furthermore, we would like to suggest expanding the horizontal dimension based on the promotion of gender equality which should not be based only on the gender pay gap but also on freedom of expression, assembly, etc.

The draft Regulation on ESG ratings proposed by the European Commission in June 2023 aims to establish a framework and tackle structural issues by combating possible conflicts of interests, imposing better transparency in the rating processes, and introducing an authorisation and supervision system for ESG rating providers (for both EU and non-EU entities). Although commendable,

BETTER FINANCE’s answer to the European Commission (EC) consultation on environmental, social, and governance (ESG) ratings and sustainability factors in credit ratings aims to inform on concerns about the functioning of the ESG ranking market developed by commercial data providers. This agenda pertains to the renewed sustainable finance strategy adopted in July 2021 by the

BETTER FINANCE welcomes the horizontal and vertical dimensions represented in the objectives of the taxonomy. Furthermore, we would like to suggest expanding the horizontal dimension based on the promotion of gender equality which should not be based only on the gender pay gap but also on freedom of expression, assembly, etc.

The centre-left political group in the European Parliament, the Socialists and Democrats (S&D), are leading a proposal to reject the Markets in Financial Instruments Directive (MiFID) Quick Fix in tomorrow’s vote in the European Parliament’s full plenary. Based on the S&D’s latest press release on the matter, Finnish MEP and S&D negotiator on the MiFID Quick-Fix 

BETTER FINANCE welcomes the the use of specific templates to standardise the disclosures of ESG information. We consider that to be comparable, the information disclosed  must reach the highest degree of standardisation at cross-sectoral levels and standardisation concerns not only the type of information to be included, but also the order flow and format; in

During a vote in the European Parliament’s committee on economic affairs on a proposed quick fix to the so-called Markets in Financial Instruments Directive (MiFID), the centre-left S&D party abstained.  With this proposal, the European Commission aimed to make some amendments to the MiFID regime, in order to address the impact of the Covid-19 crisis

BETTER FINANCE welcomes the introduction of requirements for firms providing investment advice and portfolio management to ask clients about their non-financial objectives and preferences. This is an important step forward for the integration of sustainability in the fiduciary duties of financial advisers. However, we recommend some specific amendments in order to avoid: green-washing practices in

BETTER FINANCE fully supports this proposal to include ESG considerations during the advisory and product suitability process. However, we have some concerns regarding the proposal. Firstly, and as raised at several occasions by BETTER FINANCE, before requesting institutional investors and assets managers to include ESG’s client’s preferences in the advisory and product suitability process, we

On 28 July 2017, the European financial regulators (ESAs) released their technical advice on the contents of the Key Information Document (KID) for packaged retail and insurance-based investment products (PRIIPs) with environmental and social objectives (EOS PRIIPS). Surprisingly the Governance component of the “ESG” (Environmental, Social and Governance) investment approach is excluded. The ESAs confirm

⬇️ Read or download BETTER FINANCE’s Individual Investors’ Key Priorities for 2024-2029 below. ⬇️ Let’s harness the Capital Markets Union’s (CMU) potential to benefit our citizens as financial consumers, retail investors and pension savers, as well as our planet, the economy, and for future generations. This will ensure Europe’s prosperity and security in a rapidly

European parliamentarians have been urged not to back any draft of the revised IORP Directive requiring full funding of pension fund liabilities; ahead of a crucial vote to decide the chamber’s final negotiating position. The call comes ahead of a vote by the European Parliament’s Economic and Monetary Affairs Committee (ECON), which is set to

EuroFinuse is extremely concerned by the urgently needed development of second and third pillar pension products in the European Union, in view of the current restraints for welfare policies due to Member States’ budgetary constraints. We believe that private pension products-related areas in the EU do not only lack of a necessary regulatory framework; but

For years, European investors have paid higher fees and have found it more difficult to access low-cost, passively managed products than US investors. Traditional sales and distribution channels are partly responsible for the huge disparity in retail take-up between Europe and the US, where half of the ETF market is retail, compared to only 10%

As stated by ESMA “the COVID-19 crisis offers the opportunity to test the hypothesis [often claimed by the industry] that active equity UCITS outperform their benchmarks during stressed market conditions”. In light of this period of market downturn followed by a quick recovery and then stabilisation, ESMA analysed a sample of actively managed equity UCITS funds,

In June 2021, the German Association of Insured (BdV), together with the analyst Carsten Zielke and the European consumer organisation BETTER FINANCE, presented the results of their analysis of the current SFCR (Solvency and Financial Condition Report) of selected European life-insurers. Following up on this, BETTER FINANCE and BdV discussed their methodological approach, the interpretation

The Covid-crisis has become profitable for some in the financial sector. Among those who profit, are the Exchange Traded Funds (ETF), that seem to have stood up quite well in the face of the economic recession in recent months, and are now emerging stronger compared to traditional index funds. Charles Symons, Director of iShares in

The coronavirus pandemic has dealt a blow to pension systems across Europe, heaping pressure on policymakers to introduce reforms to avoid a decades-long retirement crisis, according to an influential consumer group. Big increases in unemployment will shrink the tax revenues used to fund state pensions and reduce contributions to retirement saving schemes run by employers

All-women and mixed-gender US fund teams outperformed all-male portfolio management teams so far this year, according to an analysis conducted by Goldman Sachs, a leading global investment banking, securities and investment management firm. This analysis raises fresh questions about the investment industry’s progress in addressing its gender diversity problems. So far this year, female managed funds

According to a study brought up by the Financial Times, private investors seeking to question company strategy at annual general meetings are increasingly being ignored as Annual General Meetings (AGM) have moved online to adapt to the pandemic and confinement measures. Only 36 per cent of questions posed to companies by shareholders at virtual AGMs

Asset managers are urging Brussels to delay implementation of its landmark sustainable investing rules. The resistance from the investment industry shows the struggle and complexity between policymakers´ambitions to push for greener finances and the harsh reality of implementing a new financial system. The rules are expected to come into force in March 2021, a deadline

Investment with a sustainable focus is only likely to grow, wealth managers believe. […] When BlackRock boss Larry Fink announced plans in January to put sustainability at the heart of the world’s biggest asset manager’s investment strategy, there was no mention of the newly-emerging coronavirus in China. […] The move came amid mounting hype about

BETTER FINANCE supports the appeal from EFES, the European Federation of Employee Share Ownership, to all European governments & institutions to urgently consider the benefits of Employee Share Ownership (ESO) in countering the inevitable fallout from the fiscal measures employed to combat the Covid-19 crisis. BETTER FINANCE signed the EFES appeal below: Employee Share Ownership

Over the last two years, health-related restrictions and economic shutdowns had unforeseen effects on European capital markets. An increase in disposable income available for EU households to invest, and at least four and a half million[1] previously inactive EU savers now investing in the real economy and trading in financial instruments, has created a new

BETTER FINANCE – one of the only two individual user side members of the European Commission’s “High Level Forum on the CMU” – firmly advocates for a Capital Markets Union (CMU) that “Works for people” and focuses on EU citizens as – by far – the largest source of long-term, sustainable funding for the real

Brussels, 7 April 2020 – The continued spread of the COVID-19 virus around the world and the emergency confinement measures have severely disrupted capital markets. EU Citizens in their capacity as investors and savers are already feeling the squeeze and will be among the first in line to suffer from the economic and financial fallout

Yesterday Oxera released a report entitled “The design of equity trading markets in Europe – An economic analysis of price formation and market data services” commissioned by the Federation of European Securities Exchanges (FESE). Through this research, FESE is seeking to inform the debate on the design of equity trading markets in Europe, particularly when

2018 saw the start of the implementation of the packaged retail and insurance-based investment products (PRIIPs) regulation, imposing a new standardized information document (KID) to parties providing investment products. BETTER FINANCE, ahead of the curve, was quick to point out the inconsistency between MiFID II`s rejection of future performance based on past performance, and the

In an article dismissing the proclaimed, and in some case much-awaited, demise of capitalism, the Economist makes light of the argument that the ‘sharing economy’ is poised to replace the market economy. Not so says Buttonwood. In perfect capitalist style, new business models are merely replacing old ones whilst finding innovative ways to monetize their

On the 30th of May, the European Commission initiated the budgetary (legislative) procedure and submitted the Draft 2018 E.U. Budget to the two co-legislators, the Council of the European Union (Council) and the European Parliament (E.P.). Reacting to the draft budget, Sven Giegold, member of the E.P. for  the European Free Alliance (also called The Greens),

Economists Eugene F. Fama, Lars Peter Hansen and Robert J. Shiller are this year’s Nobel Prize winners for economics. The Swedish Riksbank in memory of Alfred Nobel decided to award the Nobel Prize to the three economists “for their empirical analysis of asset prices”.  The economists’ research showed that while it is difficult to predict

The resolution voted on 30 September by MEPs from the Economic and Monetary Affairs Committee welcomes the fact that some concerns previously raised by the EP have been addressed but insists that there is still ample room for improvement. The resolution focused on the need to build social concerns into the Economic and Monetary Union