The EU Commission should consider the following initiatives for EU financial service users:
- Establishing independent savings products data bases which imply standardized Key Information on actual costs, performances and risks (“garbage in garbage out”).
- Development of independent web comparative tools that would feed upon such reliable data bases , and would allow and facilitate the comparison of – and choice between different investment products.
- Rethinking mandatory disclosure documents for investment products like KIID/KID for online/ smart phone adaptation, for example using drawdowns for more detailed information.
- Enabling individual shareholder engagement within the EU by voting or giving power to a proxy with one’s smartphone.
- Ensure a much better quality of the robo advice algorithms
- EU regulatory framework for retail financial products should be also applied to new technologies in order to ensure protection for individual investors and financial service users.