Brussels, 6 November 2024 – Press Release BETTER FINANCE has yesterday published the 12th edition of its annual pensions report, uncovering significant issues that threaten the future financial security of European pension savers. With sustained inflation, opaque fees, and inefficient asset allocation affecting retirement funds, the report underscores the urgent need for regulatory action and
Was 2023 the year when European retail investors finally obtained the “fairer deal” that outgoing European Commissioner Mairead McGuinness had wished for them (McGuinness, 2023)? As far as long-term and pension products are concerned, this report presents mixed results. While European capital markets performed strongly in 2023, helping many pension funds and life insurance companies
BETTER FINANCE submits its response to ESMA’s consultation on the Technical Standards specifying the criteria for establishing and assessing the effectiveness of investment firms’ order execution policies. While ESMA’s broader agenda includes reducing regulatory burdens for firms, BETTER FINANCE emphasises that, for retail investors, the new Level 2 RTS must prioritise clarity, usefulness, and the quality
In its comprehensive responses to ESMA’s consultations on both the draft Guidelines and the Regulatory Technical Standards (RTS) on Liquidity Management Tools (LMTs), BETTER FINANCE strongly advocates for a regulatory framework that ensures effective fund liquidity management while upholding the fundamental rights and protections of retail investors. While recognising the necessity of robust LMTs in
Brussels, 7 October 2024 – Press Release BETTER FINANCE, the European Federation of Investors and Financial Services Users, emphasises the urgent need for enhanced protection and redress mechanisms for investors in light of a recent report revealing a significant rise in online investment scams across Europe. As digital finance and investing hold the promise of
In light of the MiFIR/MiFID II review (entered into force on 28 March 2024, with transposition deadlines for MiFID II amendments set on 29 September 2025), this consultation package no 3 addresses key aspects of equity market transparency, focusing on proposed technical standards and amendments to existing regulations. While BETTER FINANCE recognises the importance of this consultation,
BETTER FINANCE supports the findings of a key report titled Unmasking Digital Deception: A Data-Driven Approach to Mapping and Combating Online Investment Fraud in Europe. This report highlights the alarming rise of online investment scams that target retail investors across the continent, driven by the rapid digital transformation of the financial sector. The expert team
Brussels, 27 September 2024 – Press Release BETTER FINANCE, a leading advocate for pension savers across Europe, is unveiling its 12th Annual Pensions Report. Amidst growing financial uncertainty, this year’s report reveals a troubling long-term trend that underscores the precarious state of pensions, and offer critical insights into how hidden costs, asset allocation inefficiencies, and
On 17 September, Ursula von der Leyen, President of the European Commission, unveiled the new proposed College of Commissioners, nominating Maria Luís Albuquerque as the new EU Commissioner for Financial Services. With a critical portfolio focused on advancing the development of a Savings and Investment Union (SIU) that prioritises the needs of citizens, Mrs Albuquerque’s
The European Commission’s consultation on Artificial Intelligence (AI) in Financial Services is part of the broader AI Act, a horizontal legislation regulating AI across multiple sectors, including finance. While AI systems in financial services must comply with existing frameworks like MiFID and MAR, there is still a need for clarity on AI usage beyond the