The EU Parliament JURI Committee has voted on 26 April on the new proposals aimed at reforming the audit profession looking to increase audit quality and investor renew confidence in financial reporting. EuroFinUse believes that the approved text will only partially resolve the problems this Audit Reform was aiming to tackle. Press Release
In an article published by the Financial News on the 5th of March 2018, asset managers are set to pay out £34m following an investigation by the FCA uncovering widespread evidence of funds charging expensive management fees for doing little more that tracking their benchmark. The compensation payments are stated as coming after BETTER FINANCE`s
BETTER FINANCE, which describes itself as a European federation of investors and financial services users, said its members back the Parliament’s proposed rejection of “misleading” and “overly complex” draft implementation rules under Priips, or Packaged Retail and Insurance-based Investment Products regulations – but for different reasons to politicians. Read more here.
The debt discharge law is the right path to be followed to help as many borrowers in financial difficulty as possible, given that so far in Romania there is no other law to support them, and banks have been reluctant to come up with concrete solutions to their problems. This was mentioned in a letter
According to Guillaume Prache, "the younger generations do not turn to their bank clerk for savings advice”. “We are witnessing the emergence of a large multifaceted consulting sector online, . Alongside the sites of the traditional players of the finance world, there are now purely online services. The rapid development of FinTech – the practice
In an article published yesterday in the Financial Times Guillaume Prache of BETTER FINANCE and Carl Rosén of the Swedish Shareholders’ Association were quoted on the topic of closet tracking funds. BETTER FINANCE highlighted the fact that it had already reported its concern to ESMA (the European Securities and Markets Authority) that “closet trackers” overcharged
Arcaf, the National Association for Public Employee Pension Savers, in France and member of BETTER FINANCE as part of FAIDER, alerted consumers to the insufficient solvency of the COREM pension fund. The French Mutual Pension Union which manages the COREM retirement savings products for 400,000 savers reached now a hole of € 2.9 billion. Almost a year after Arcaf requested the
Guillaume Prache, Managing Director at BETTER FINANCE, was interviewed by the French daily newspaper "La Liberté" on the stress tests the European Central Bank (ECB) is carrying out in 123 banks across the 28 European Union countries. The ECB is scrutinizing 130 banks in the 18 eurozone countries and Lithuania, which is set to join the currency union
Guillaume Prache, Managing Director at BETTER FINANCE, was quoted in the Financial Times on the billions of pounds’ worth of unclaimed assets. Although the article focused on the several fund houses in the UK that have called in specialists to track down the owners of what may amount to billions of pounds’ worth of unclaimed assets, Guillaume Prache
On 30 September Guillaume Prache, EuroFinUse’s Managing Director, was quoted in the Financial Times in relation to the ‘elitist focus’ of the mutual fund industry which was criticised following research by Mackay Williams. Research showed that the focus of the fund industry on the needs of the wealthiest 10 per cent of Europeans has cost