EuroFinUse published a press release demanding more clarity and transparency on the conditions to be applied to Cyprus banks’ bondholders: the declarations of Mr. Dijsselbloem on the involvement of bondholders should be more precise. Indeed, and contrary to the EC regulatory proposal on banks’ recovery and resolution, bondholders –unlike depositors– were not included in the
With regards to the EPFSF event from 29 January 2013 on “The Liikanen Report: do we need a reform of the EU banking structure?" to which EuroFinuse participated please find here the statement of Managing Director Guillaume Prache.
According to the Financial News at least eight hedge-fund firms have announced their intention to close their business due to uncertain markets, tighter regulation and "investors with ever-shorter time horizons". Read the full article here. (Source: Financial News)
Good news at last for some investors caught in “closet index” funds: fund managers will indemnify investors from 64 UK domiciled funds for £ 32 million following the UK financial supervisor’s investigation. Closet index funds are funds that claim to be actively managed, and charge “active” management fees, but closely track the market indices (before
BETTER FINANCE welcomes the Interim Report of the High-Level Expert Group on Sustainable Finance of the European Union, which highlights the need to “incorporate long-term and sustainable value creation”. BETTER FINANCE underlines the need to establish common definitions and standards at least at the EU level. Long-term and pension savers must be recognised as major
BETTER FINANCE keenly supports the European Commission’s proposal to launch a Pan-European Personal Pension product (PEPP) as a key component of the Capital Markets Union (CMU) initiative. The extreme fragmentation of the numerous EU markets in Personal Pension Products (PPP) hampers the development of badly needed economies of scale. BETTER FINANCE strongly doubts that any
On February 2nd ESMA released some long awaited results of its investigation on falsely active equity UCITS funds (also called “closet indexers”). Those are funds that claim to be “actively” managed but that are in fact merely following market indices, although they charge much higher fees than low cost index-tracking funds such as ETFs. The
BETTER FINANCE, the European Federation of Financial Services Users, notes with concern that the panel on “relevant players in the market for long term capital” at the upcoming Conference by the European Commission and the Italian Presidency on the Capital Market Union, does not include any representatives of individual investors, although they are explicitly (and
In view of the recent FOREX and LIBOR scandals, EuroFinUse finds it astonishing that the media are not paying attention to the fact that the largest market of all – the currency exchange market – is not regulated at all and has been completely overlooked by the European Institutions and regulatory bodies. Rapid steps to achieve EU
EuroFinuse, the European Federation of Financial Services Users, is closely following the debate onthe “UCITS V Directive” that is currently focusing on depositories’ liabilities and asset managers’remuneration.These are two major issues that have to be tackled by EU institutions, as they were exposed as theweakest part of the UCITS framework during the financial crisis. Performance