On 1 July 2020, Germany took over the Presidency of the Council of the European Union from Croatia and published the presidency programme for the next six months, including several aspects related to financial services, highlighting “a sustainable financial market architecture, stable financial policy and fair taxation”. With regards to taxation the German Presidency is

BETTER FINANCE welcomes the introduction of requirements for firms providing investment advice and portfolio management to ask clients about their non-financial objectives and preferences. This is an important step forward for the integration of sustainability in the fiduciary duties of financial advisers. However, we recommend some specific amendments in order to avoid: green-washing practices in

Düsseldorf, 01 July 2020 – DSW, the leading shareholder association in Germany, repeatedly criticised Wirecard in the last years for its lack of transparency and weak Corporate Goverance structures. „The ad-hoc disclosure of 18 of June 2020, in which the company stated that there was no proof for the escrow accounts about 1.9 billion €

It is with surprise that BETTER FINANCE and its member organisations representing financial services users read the headline on 18 June 2020 that Wirecard AG (“WD”), one of Europe’s FinTech success stories, may have mis-reported €1.9 billion in its balance sheets, filling for insolvency a few days later.

BETTER FINANCE welcomes the ECON’s legislative own-initiative report on Digital Finance to assess the regulatory and supervisory challenges on the digital financial market in order to guarantee a resilient digital financial system. BETTER FINANCE believes that the EC should attempt to better coordinate the parallel consultations (Mifid II, Digital Finance Strategy, Sustainable finance Strategy) –

The EU Commission should consider the following initiatives for EU financial service users: Establishing independent savings products data bases which imply standardized Key Information on actual costs, performances and risks (“garbage in garbage out”). Development of independent web comparative tools that would feed upon such reliable data bases , and would allow and facilitate the

We, the undersigned organisations, would like to congratulate you for the very important announcement made during several recent online events, that the Commission will propose legislation in 2021 on both corporate due diligence and directors’ duties as part of your initiative on sustainable corporate governance, taking into account ongoing national-level mandatory due diligence developments. We

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published the new list of members of its Securities and Markets Stakeholder Group (SMSG). The selected individuals begin a four-year term on 1 July 2020. The SMSG will provide ESMA with advice on its policy work and must be consulted on technical

BETTER FINANCE and BEUC published a Joint Public Letter concerning the collective redress file in light of the recently published Final Report of the High-Level Forum on the Future of the Capital Markets Union, reaffirming the necessity of creating a pan-EU collective redress mechanism that does not exclude European citizens as financial consumers and individual