The European Authority in charge of Insurance and Pensions – EIOPA – just issued discussion paper on conflicts of interest in direct and intermediated sales of insurance-based investment products (PRIIPs) at the request of the European Commission. This consultation focuses on: the steps that insurance intermediaries or insurance undertakings might reasonably be expected to take to identify,
Following the success of the BETTER FINANCE Conference last week at the European Parliament, BETTER FINANCE is already organising its next conference in cooperation with the Icelandic Shareholders Association Samtök Fjárfesta. The conference "Back to Basics – Economies Before, During and After the Crisis" will be held on the 27th of June 2014 in Reykjavik. Please
We are grateful for the support shown by the Expert Corporate Governance Service (ECGS) for the BETTER FINANCE Manifesto! "ECGS supports the EuroFinuse initiative on BETTER FINANCE Manifesto ! ECGS supports the initiative of EuroFinuse launched in February 2014 for better finance and improved consumer protection, long term investments and better governance." Please find more
In an article in “The Telegraph”, Tidjane Thiam, group chief executive of Prudential and chairman of the Association of British Insurers, and Katherine Garrett, chief executive of Alliance Trust PLC, underlined that “without a significant increase in business investment, underpinned by savings, a recovery may not lead to sustained growth”. The European Commission already recognized that
In a leaked report by the German weekly newspaper Der Spiegel, Deutsche Bank executives are put on the spot by the German finance regulator (BaFin) over suggestions that little has been done to restore the bank’s reputation. Following the Libor scandal, BaFin and other regulators started investigating Deutsche and more than a dozen other institutions
INTERNATIONAL CONFERENCE AEMEC/EUROFINUSE «The EU and Minority Shareholders – Legislative developments and Undertakings» DRAFT Programme for AEMEC – EuroFinUse event in February 2014 (Madrid) Programme 21st of February 09.30h Opening Remarks Jean Berthon 9.45h Provisional
On Wednesday 24 October, the European Central Bank started a comprehensive assessment in advance of its supervisory role in order to submit the Eurozone’s top banks to risk assessment, asset quality review and stress test next year, starting in November. With this exercise it aims to improve transparency, repair trust and build confidence. The ECB
Gabriel Bernardino – Chairman of EIOPA – in a letter to Jonathan Faull – Director General of the European Commission’s DG MARKT – pointed to the urgent need to improve consumer protection in the area of insurance investment products (mainly life insurance). He urges that regulatory intervention is necessary to reinforce the protection of policyholders’
EuroFinUse was quoted by the Financial Times in relation to the European Securities and Markets Authority recent report on structured products. Following "relatively low” returns on investment in structured products over the past five years, the ESMA is concerned that retail investors who invest in structured products that use hedge fund-type strategies might not have
The European Insurance and Occupational Pensions Authorities (EIOPA) launches the Call for Expression of Interest regarding the setting up of EIOPA Stakeholder Groups, the Insurance and Reinsurance Stakeholder Group (IRSG) and the Occupational Pensions Stakeholder Group (OPSG), following the expiration of their mandates later this year. The Stakeholder Groups are set up to help facilitate