The Icelandic Savers Organization (ISA), the founding member of BETTER FINANCE, organised a series of lectures during 2018-2019 to commemorate the ten-year anniversary of the crisis of 2008. All the lectures had the common headline “Never Again” and looked into the reasons and consequences of the crisis. The lectures focused on subjects such as the
The climate change lobby has been active for decades, and the supporting data has slowly become more significant and more real. But the recent rally seems to have marked a turning point in public acceptance of the need for change, and it suddenly seems that government and industry will need to up its game substantially.
Following the biggest class action lawsuit ever filed in Norway, around 180,000 DNB consumers have won their claim that the fees charged by the biggest bank in the country were far too high. DNB had already been sued by the state consumer council three years ago, on the basis that it must refund around NOK
The EU CMU project aims to rebalance the funding for the EU economy from banks to capital markets. The key requisite for this to happen is to foster retail investments into capital markets. Following a proposal from BETTER FINANCE, the EC added a new CMU action in 2017 to “develop best practices in employee share
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
Fresh guidance from Europe’s markets watchdog has been hailed by BETTER FINANCE as a first step towards rooting out the practice of closet-indexing, also referred to as falsely active funds. Recently ESMA published an update to its question and answers document on the UCITS directive, aimed at fostering supervisory convergence among national regulators on the
When the European Securities and Markets Authority (ESMA) updated its Questions and Answers (Q&As) regarding the application of the Undertakings in Collective Investments in Transferable Securities (UCITS) Directive on 29 April 2019, BETTER FINANCE was happy to find that ESMA heeded our calls to better address various disclosure issues and closet indexing in general. The
BETTER FINANCE is pleased to announce that two of its members have been selected for the renewal of the Investment Management Standing Committee Consultative Working Group (CWG). Jean Medernach – President of Investas in Luxemburg and Jean Berthon (President of GAIPARE and Vice-President of BETTER FINANCE) have been selected for a renewable term of two
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