In a letter to the European Commission’s Directorate General in charge of Financial Stability, Services and Capital Markets Union (DG FISMA) dated 20 June 2020, the European Supervisory Authorities (ESAs) informed that one of their respective Supervisory Boards did not approve the draft level 2 regulatory technical standards (RTS) for the Delegated Regulation on key
Brussels, 31 July 2020 – In a letter to the European Commission’s Directorate General in charge of Financial Stability, Services and Capital Markets Union (DG FISMA) dated 20 June 2020, the European Supervisory Authorities (ESAs) informed that one of their respective Supervisory Boards did not approve the draft level 2 regulatory technical standards (RTS) for
BETTER FINANCE’s German member organisation, Deutsche Schutzverein für Wertpapiersitz (DSW), published a series of Q&As for duped individual investors and pension savers in light of the outrageous Wirecard AG scandal and the accompanying, corporate governance, external auditing and supervisory failures. The Q&A document is available in English on the BETTER FINANCE website below. On 1
Brussels, 31 July 2020 – On 24 July 2020, the European Commission (EC) announced the “Capital Markets Recovery Package”, as part of the its overall coronavirus recovery strategy, aimed at making it easier for capital markets to support European businesses in their recovery from the fallout from the ongoing Covid-19 crisis. To this end the
Brussels, 20 July 2020 – The new composition of the European Supervisory Authorities’ (ESAs) “Stakeholder Groups” is a step backwards with regard to a balanced representation between industry and consumers in EU financial rulemaking. This is the result of the recent ESAs reform, which reduced the quotas for consumers and academics in favour of financial
BETTER FINANCE believes that the main challenges and opportunities for next 10 years will be: Reorienting the equity and bond funding towards sustainable investments. The identification of sustainable investments must be based on facts and science, not on emotions and ideologies, and on the probability to have a positive impact on the environment, society and
European Commission Press Release – This document reflects the outcome of the high level dialogue between all participants of two round-tables on best practices organised in May and June 2020 by the European Commission in light of the COVID19 crisis. All participants agree to continue the dialogue on the COVID19 crisis and its impacts in
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
BETTER FINANCE – one of the only two individual user side members of the European Commission’s “High Level Forum on the CMU” – firmly advocates for a Capital Markets Union (CMU) that “Works for people” and focuses on EU citizens as – by far – the largest source of long-term, sustainable funding for the real