BETTER FINANCE's answer to the Public Consultation on the Fitness check on supervisory reporting

As a general remark, BETTER FINANCE sees values in ESAs being empowered with the collection of data from market players. However, under the present framework, ESAs do not have the proper tools to easily and efficiently collect the data necessary to fulfil their role. In its answer to the Public Consultation on the operations of the ESAs of the European Supervisory Authorities, BETTER FINANCE already raised that ESAs should be empowered with ensuring that the provision of such data is independent and easily accessible to individual savers and investors. In particular, the ESAs have failed to report on the performance and fees of the retail financial products they supervise.

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