In its final advice to the European Commission (EC) on the further development of a single European Union market for personal pension products (PPPs), the European Insurance and Occupational Pensions Authority (EIOPA) stressed that attempts to harmonise existing Directives and rules across the different sectors and EU Member States would be counter-productive and unnecessarily complicate
BETTER FINANCE responded to the European Commission’s consultation on the performance of the current Transparency Register for organisations and self-employed individuals engaged in EU policy-making and policy implementation and on its future evolution towards a mandatory scheme covering the European Parliament, the Council of the EU and the European Commission.
A report by Bruegel on transparency in the European Banking Union, based on a survey carried out in 2013, has recently been revisited by its authors, analysing the most recent evolution in terms of banking supervisory transparency. The updated report concludes that financial supervisory data transparency at the EU level has gradually improved but does
The Joint Committee of the European Supervisory Authorities recently issued its proposal for regulatory technical standards (RTS) on Key Information Documents (KIDs) for Packaged Retail and Insurance-based Investment Products (PRIIPs). BETTER FINANCE already expressed its major concern with the destruction of a key improvement of the UCITS funds regulation in the past: the mandatory, standardised
The Committee on Economic and Monetary Affairs (ECON) of the European Parliament (EP) voted on the text of an own-initiative report evaluating the International Accounting Standards (IAS) and highlighting some of the shortcomings in the standard-setting activities of the International Financial Reporting Standards (IFRS) Foundation and the European Financial Reporting Advisory Group (EFRAG).
The purpose of this public consultation is to collect information and views from stakeholders on guidance on reporting of non-financial information by companies across all sectors. At this time, it is premature to prejudge what form the guidelines should take. This will depend on the outcome of this consultation. The guidelines should be relevant and
A letter by the European Commission to the Romanian Minister of Public Finance, Ms Anca Dragu, was very critical of the adoption of the “datio in solutum” law aimed at helping consumers with financial difficulties to deal with their mortgages. Since the publication of the letter, as well as the letter in reply (by BETTER
Whilst BETTER FINANCE welcomes EIOPA’s consultation on PPPs, we wish to make clear that this is only a second best option compared to the much more preferable and effective Pan-European Personal Pension product approach (PEPP). We doubt that any meaningful harmonisation of the myriads of PPP regulatory regimes within the EU could happen any time
At the end of 2013, at the occasion of the publication of its yearly report on the real return of pension savings, BETTER FINANCE warned of the risk of a disastrous eradication of European savings across the board. Nearly two and a half years later and the warning goes unheeded, with the European Central Bank