In response to the EC questionnaire on long-term investment funds EuroFinUse would like to highlight that equities and bonds are much simpler products that have been designed centuries ago to fund the long-term needs of the real economy. We are therefore concerned that the Commission may add complexity to the already excisting large array of
The derailment of the financial system, which led to one of the deepest global economic crises in history has its roots to a large extend in the high and often questionable complexity and opacity of financial markets/products. The European Parliament and the EU Council established the European Supervisory Authorities (ESA) in 2011. These authorities are
After the latest revision of MiFID 2 failed to include a total ban on inducements but instead seeks to ban any “remuneration, discount or non-monetary benefits” for routing orders, while the requirement to take all “reasonable” steps to get the best deal for clients has been changed to “necessary”, what remains is the question how
EFRAG, the European Financial Reporting Advisory Group, was established in 2001 with the aim of advising the European Commission (EC) on the suitability of the International Financial Reporting Standards (IFRS) as set by the International Accounting Standards Board (IASB). EFRAG’s mission is to ensure that European views on the matter are taken into account in
Azione MPS, the Association of Small Individual Shareholders and member of CONAPA, sent out a letter today addressed to the Public Authorities of the European Union and of the Italian Republic. The letter points to the main contradictions at the heart of the forced state intervention in the listed company Banca Monte dei Paschi di
A report by Bruegel on transparency in the European Banking Union, based on a survey carried out in 2013, has recently been revisited by its authors, analysing the most recent evolution in terms of banking supervisory transparency. The updated report concludes that financial supervisory data transparency at the EU level has gradually improved but does
The Commission’s proposal for the review of the Shareholder Rights Directive (SRD), aimed at countering wide-spread short-termism in favour of a long-term perspective in the governance of listed companies by stimulating stronger shareholder engagement, was presented to the European Parliament (EP) and Council. For all intents and purposes the SRD in its current form means
BETTER FINANCE welcomes the new “Trends, Risks and Vulnerabilities” report released today by the European Securities & Markets Authority (ESMA). But the ESMA press release does not say a word about individual investors’ trends and risks. Moreover, and of additional concern, the new report itself fails to identify and underline the mounting losses suffered by
The Economic and Monetary Affairs of the European Parliament (ECON) voted yesterday on the Regulation for a Key Information Document for investment products (formerly known as “PRIPs”). EuroFinUse praises the European Parliament for voting for more consistency in summary information for investors, but is quite concerned that a majority of the critical long term and
On the 26th of April, Funds Europe published an article on the challenges faced by consumers investing in financial products, tackling the issue in light of the upcoming public hearing -set for the 29th of June- and the EC`s "Study on the distribution systems of retail investment products". Called upon to comment, BETTER FINANCE highlighted the