On an EPFSF event in January 2013, Guillaume Prache, EuroFinUse’s Managing Director, called for a real separation of commercial banking from market and investment banking; stressed that the financial crisis does not only come from “deposit taking” banks and property lending and that the Liikanen Group considered EuroFinUse’s proposal to limit property lending “bubbles”.
EuroFinuse, the European Federation of Financial Services Users, is closely following the debate on the “UCITS V Directive” that is currently focusing on depositories’ liabilities and asset managers’ remuneration. These are two major issues that have to be tackled by EU institutions, as they were exposed as the weakest part of the UCITS framework during
EuroFinUse shows its concerns on the long awaited Regulation on Key Information Documents for investment products that will unfortunately, and contrary to the original aim, only address the harmonization and improvement of pre-contractual product information, and not sales practices. KID Regulation must apply to all “substitutable” investment products at the retail point of sale and
We believe that the current economic damages endured by shareholders of European listed banks with good audit reports challenges the proper functioning of the audit markets in Europe. This would have profound implications for both the European financial industry and any kind of audited company in Europe. Therefore, we generally support the initial Proposal for
We strongly support the new “horizontal” approach of the EC, which is the right way to look at the distribution of retail investment products, as most of them are “substitute” to each other, and most of them are or can be sold by the same intermediaries. We nevertheless regret that the retail investor’s perspective is