The World Bank Centre for Financial Reporting Reform, in cooperation with the Chamber of Auditors of Romania, is organizing a one day event on ‘The Audit Committee, the keystone of the financial reporting and audit process: From policy to practice‘ on 6 June 2013. EuroFinUse will participate to this event to offer the perspective of
European lawmakers have called off a controversial vote that would have led to further delays implementing reform of the region’s derivatives markets, following strong pressure by the European Commission. Leading parliamentarians agreed on Thursday to withdraw a motion just hours before it was set to go to all 750 members of the European Parliament. If
At the last General Assembly meeting in Paris, ADAM the French shareholder association headed by Colette Neuville (a member of EuroFinuse) welcomed Jean Berthon, chairman of FAIDER, also a member of EuroFinuse, and Basil Postan, a retired British investment expert as its new Board Members.
As pointed out at several occasions by BETTER FINANCE , EU citizens as savers are by nature mostly long-term driven, evidenced by the fact that 67% of their total assets are deployed in long-term investments (versus only 37% for pension funds – despite their purely long-term horizon – and 10% or less for insurers), and
BETTER FINANCE has the pleasure to announce that Aleksandra Maczynska has just joined its Brussels team as number two. Read the Press Release here
In December 2013 the subordinated bondholders in five Slovenian banks (NLB, NKBM, Abanka, Probanka and Factor Banka) were bailed-in to refinance these struggling institutions. Subordinated bonds in a sixth bank (Banka Celje) were wiped out in December 2014. In each case the bail-in consisted of a complete wipe-out of all subordinated bonds, including those sold
In December 2013 the subordinated bondholders in five Slovenian banks (NLB, NKBM, Abanka, Probanka and Factor Banka) were bailed-in to refinance these struggling institutions. Subordinated bonds in a sixth bank (Banka Celje) were wiped out in December 2014. In each case the bail-in consisted of a complete wipe-out of all subordinated bonds, including those sold
On February 19, ESMA held a hearing on its MiFID II / MiFIR Consultation. Guillaume Prache, Managing Director at BETTER FINANCE, attended the meeting and took the opportunity to ask if the new technical standards proposed by ESMA would help ending this investor detriment. ESMA replied that indeed in the future data collected from the SIs together with
Legislative steps aimed to protect millions of retail investors face danger of failing during forthcoming negotiations in Brussels, according to an EU consumer interest group. The subject in balance concerns proposed rules to enforce clear descriptions of financial products being sold. This would be done with rules to introduce a Key Information Document (KID). The KID would provide the potential buyers with details of what they are buying,including full
In view of the most recent European Council Presidency progress report, EuroFinUse – the European Federation of Financial Services Users – identified room for improvement before the final MiFID II text will be agreed on in the “Trialogue” later this year. Read the full press release here. Read our proposed amendments here.