Lithuania’s DNB bank has been sued by investors based on investment losses stemming from the 2008 global financial crash. According to DELFI of the Lithuania Tribune, Investors argue that DNB bank marketed products to them that were suggested to be low risk and pressured investors to borrow against the equity in their homes or take
ShareSoc, the UK Individual Shareholders Society, one of BETTER FINANCE’s members has published today its new remuneration guidelines. In summary: • FTSE100 CEO pay is too high. It should be less than half of current amounts.• FTSE 100 CEO’s maximum bonus should be 100% of salary (currently 200% is common) and the LTIP maximum normal
Profit margins in the asset-management industry were 39% in 2014, according to BCG, a consultancy, compared with 8% in consumer goods and 20% in pharmaceuticals. Yet the outlook for many asset managers is grim. The industry is being reshaped by low-cost competition. At the same time falling markets are shrinking assets under management, and thus
A new research highlights the self-serving nature of the fund industry. One of the biggest problems with this industry is that the interests of the fund manager and the end investor are fundamentally misaligned. Further evidence of this mismatch between the interests of investors, managers and fund management companies is provided below: – Struggling managers
MiFID II remains the main topic in terms of EU financial legislation despite a possible delay in implementing new rules covering European financial markets according to Jake Green, partner in the financial regulatory group dealing with corporate practice at law firm Ashurst in London. Green told Markets Media: “Some buyside clients are holding back preparations
In parallel with the ongoing review of the effect of financial regulations implemented since the start of financial crisis as requested by the European Commissioner Jonathan Hill, Karel Lannoo discusses the big items dominating EU financial policies and their implementation in his new book “The Great Financial Plumbing”. The author acknowledges that policy-makers implemented a
In April 2015, Spanish MEP Soledad Cabezón took the issue of mortgage legislation and risky financial instruments in the EU, and focusing on Spain in particular, to the European Parliament Petitions Committee. Since the protection of consumer rights is a fundamental operating principle of the European Union, the matter is obviously raising eyebrows. Both the European Court of Justice and the Supreme Court in Spain already
On September 9, 10 & 11, Eurofi held its annual Financial Forum in Luxembourg, in association with the forthcoming Luxembourg EU Council Presidency. The event focused on the integration challenges that the EU and the Eurozone face, bringing together industry representatives, regulators and political decision makers. Guillaume Prache, Managing Director of BETTER FINANCE, participated in the event as a speaker
A review of the UK Treasury and Financial Conduct Authority to be launched this autumn shows that cheaper financial advice could be offered to everyone, not only rich people and pensioners. The regulator believes that banks and investment firms could open up access to advice across the market in savings, investments, mortgages and other areas
On Wednesday (July 9), the European Parliament made a decision on the highly debated investor-state dispute settlement (ISDS) mechanism which is part of the Transatlantic Trade and Investment Partnership (TTIP), the giant trade deal between the EU and USA still being negotiated. Yesterday members of the European Parliament voted with 436 votes against 241 in favour of adopting a common position on TTIP.