EU public reporting requirements for companies have been beneficial for EU citizens since more standardised and comparable reporting has increased scrutiny. The Accounting directives (financial and non-financial) and the Transparency directive have led to more standardised and comparable corporate reporting. This information allows EU citizens and investors to better understand the companies’ policies notably in
BETTER FINANCE commented on the current legislative framework on public reporting of companies. As a representative of individual investors and financial services users in Europe, BETTER FINANCE focused its feedback on the financial reporting framework for listed companies and for banks and insurance companies.
BETTER FINANCE welcomes this opportunity to comment on the proposal for a regulation establishing the programme for a single market and competitiveness of enterprises which will continue to support the specific activities covered by the 2017-2020 Capacity-Building Programme enhancing the involvement of consumers and other financial services end-users in Union policy-making, as set out in
In June 2018 the ECON committee of the European Parliament published a study titled “Subordinated Debt and Self-placement: Mis-selling of Financial Products”. After five years of very diverse interpretations and applications of so-called “burden sharing” in bank recovery and resolution, also known as bail-in of subordinated bank creditors, the European Parliament’s ECON Committee examined whether
On 17 July EIOPA, the European Insurance and Occupational Pensions Authority announced the new composition of its two “stakeholder groups”: the Insurance and Reinsurance one (IRSG), and the Occupational Pensions one (OPSG). BETTER FINANCE thanks and congratulates EIOPA for successfully “seeking to strengthen representation of consumers”, especially in the OPSG where up to now BETTER
As pointed out at several occasions by BETTER FINANCE , EU citizens as savers are by nature mostly long-term driven, evidenced by the fact that 67% of their total assets are deployed in long-term investments (versus only 37% for pension funds – despite their purely long-term horizon – and 10% or less for insurers), and
On Tuesday 10th of July, the European Parliament co-rapporteurs published a disappointing draft report on the review of the European System of Financial Supervision: not only lacking any ambitious changes on the much needed reform of the governance model and funding of the European Supervisory Authorities (ESAs – EBA, ESMA and EIOPA), but even weakening
On Tuesday 10th of July, the European Parliament co-rapporteurs published a disappointing draft report on the review of the European System of Financial Supervision : not only lacking any ambitious changes on the much needed reform of the governance model and funding of the European Supervisory Authorities (ESAs – EBA, ESMA and EIOPA), but even
BETTER FINANCE welcomes the recent opinions of the Committee on Employment and Social Affairs (EMPL) and the Committee on Internal Market and Consumer Protection (IMCO) on the proposed “PEPP” EU Regulation, but remains concerned regarding the recent developments at the European Parliament and Council, in particular with regards to the capital “protection” and the tax
On Thursday 28 June, the European fund and asset management industry body issued a press release stressing the worrying shortcomings of the rules governing the Key Information Documents (KID) for Packaged Retail and Insurance-based Investment Products (PRIIPs). This follows the publication of its Evidence Paper that found that the new methodology for calculating transaction costs