The treasury is further softening its stance toward the financial industry as it dilutes part of the new regime that is intended to make top bank bosses more accountable. Senior managers will face the “duty of responsibility” which will only require them to take the appropriate steps to prevent a regulatory breach instead of the
There’s a growing realisation in Europe that future pensions may not be remotely sufficient to ensure adequate living standards upon retirement. About 28% of the 23,000 people who participated in an international survey encompassing 19 countries don’t believe they will have enough money to live the life they want when they retire. This sentiment is
Following Jean-Claude Juncker’s announced efforts to boost openness and transparency in the EU decision-making process when he took office in November 2014, Frans Timmermans, the European Commissioner in charge of Better Regulation, and his team adopted the Better Regulation Agenda this May. This Agenda includes : – communication on Better Regulation – the decision to set up a Regulatory Scrutiny Board – the decision to set
At a June 29 meeting between the US Financial Stability Board and representatives from the biggest asset management firms, it was decided that asset managers are not “systemically important”. After 30 banks and 9 insurers were deemed to be “systemically important financial institutions”, as a consequence of which they will be more heavily supervised and
Ten German associations have recently issued a joint call for action to promote employee share ownership in Germany, drawing attention the "urgent need to bring it out of its niche". The call was co-signed by DSW – Deutsche Schutzvereinigung für Wertpapierbesitz e.V., German member organisation of BETTER FINANCE and the largest association representing private investors in
Mitgliedschaft bei „BETTER FINANCE“ besiegelt Seit gestern ist der Bund der Versicherten e. V. (BdV) nun auch verstärkt in Europa aktiv. Mit seiner Mitgliedschaft bei der größten Dachorganisation von unabhängigen Verbraucherverbänden (NGOs) für Finanzdienstleistungen in den EU-Staaten „BETTER FINANCE“ hat der BdV jetzt auch außerhalb Deutschlands die Möglichkeit, mit neuen Partnern für mehr Verbrauchergerechtigkeit zu
BETTER FINANCE advocates for a universal right of transfer of supplemental pension rights for EU citizens, that is easy to exercise and without penalty or discrimination of any kind. The transfer right is often the only possibility for EU pension savers to get out of poorly performing pension schemes. Many of these schemes still do
UK’s Financial Conduct Authority (FCA) published final rules for charges in workplace pension schemes applicable from 6 April 2015. This step is considered advantageous for savers, as the decision requires firms operating workplace pension schemes to implement a 0.75 % charge cap for automatic enrolment funds. Under the new rules, all employers are obliged to
The European Securities and Markets Authority (ESMA) had published a call for candidates for the Consultative Working Group for ESMA’s Corporate Reporting Standing Committee. The Corporate Reporting Standing Committee is active in promoting consistent application of International Financial Reporting Standards (IFRSs) and fostering convergence of enforcement practices. It also contributes to the development of high-quality
On Wednesday, December 17, the European Parliament (ECON Committee) and the Council agreed on the proposal for capping card transaction fees. This agreement is of a political nature, the legal text still has to be formally approved by both institutions early in 2015. The text will then be voted on by the full Parliament. Card