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13/06/2017
 

PR - ROBO INVESTING AND FINANCIAL GUIDANCE - 130617


Robo- and Cyborg-Investing is still an emerging trend, but one that is growing and evolving rapidly. BETTER FINANCE believes that it can lead to significant benefits for EU citizens as savers and individual investors, and therefore to the real EU economy as a whole, in bad need of a more direct and stronger link between savings and the real assets they are invested in. Already now, the sector is providing significantly lower and more transparent fees, based – as mentioned – on a fee-based business model.

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BETTER FINANCE
BETTER FINANCE
 
 
 
 
 
31/05/2017
 

PR - AZIONE MPS DENOUNCES THE ARBITRARY INTERVENTION OF THE ITALIAN STATE IN MPS - 310517 1


Azione MPS, the Association of Small Individual Shareholders and member of CONAPA, sent out a letter today addressed to the Public Authorities of the European Union and of the Italian Republic. The letter points to the main contradictions at the heart of the forced state intervention in the listed company Banca Monte dei Paschi di Siena (precautionary recapitalisation with burden sharing) that goes against the rules and principles of Commercial Law as well as the policies pursued by the European Commission towards the creation of the Single Capital Market and which will mainly cause detriment to over 150,000 Small Shareholders who collectively own more than 55% of the Company.

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Better Finance
Better Finance
 
 
 
 
 
22/05/2017
 

A TWIN-PEAKS APPROACH TO THE EUROPEAN SYSTEM OF FINANCIAL SUPERVISION: TURNING CONSUMER PROTECTION INTO A REAL PRIORITY


With up to 20 expert members taking part in the four stakeholder groups of the European Supervisory Authorities (ESAs), including 3 vice-chairs, Better Finance is the user-side NGO that is most actively involved with the work of the ESAs. It is therefore particular well-placed to contribute to this very welcome and crucial review by the European Commission (EC) of their work. Read the full press release.

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Better Finance
Better Finance
 
 
 
 
 
13/04/2017
 

PR - THE EC S CONSUMER FINANCIAL SERVICES ACTION PLAN A GOOD START BUT MANY HURDLES REMAIN - 290317


29 March 2017 - As part of its commitment to developing a deeper and fairer Single Market, the European Commission (EC) published an action plan setting out a strategy to strengthen the EU single market for retail financial services. Better Finance welcomes this initiative and insists that an effective rollout of the EC’s Consumer Financial Services Action Plan is critical for financial services users across the EU. This Action Plan includes several important steps in the right direction such as: - the proposal by the EC for an amendment to the Regulation on Cross-Border Payments, - actions by the EC to tackle the high and hidden costs consumers have to deal with abroad when faced with a payment system known as "Dynamic Currency Conversion" (DCC) - an initiative put forth by the EC which aims at addressing the lack of objective and credible information about financial products available to consumers.

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22/02/2017
 

CHECKYOURFUND.EU GOES LIVE – RESULTS OF CLOSET INDEXING STUDY NOW SEARCHABLE ONLINE


A little more than a week ago, Better Finance announced the results of its replication of the ESMA investigation into Closet Indexing. Following up on this announcement, today Better Finance launches www.checkyourfund.eu, allowing stakeholders and individual investors to go through the results of the research and, in some cases, find out whether their investments are potentially falsely active according to the ESMA criteria. The database of the 2332 available funds is easily searchable by simply entering a fund’s ISIN code. Whereas not constituting a fully comprehensive and conclusive analysis of closet indexing in Europe, the searchable database can be an important tool for individual investors seeking to avoid detriment and a first step in the identification of closet trackers.

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Better Finance
Better Finance
 
 
 
 
 
13/02/2017
 

Better Finance Replicates and Discloses ESMA Findings on Closet Indexing


Better Finance helps investors identify potential falsely active funds (“closet indexers”), and asks regulators to investigate further: It replicated the ESMA study on closet indexing and identified up to 165 equity “UCITS” funds that could potentially be closet indexers. ESMA would not disclose the names of the funds it identified as “potential equity closet indexing funds” in its investigation results released in February 2016 (see annex 3), leaving fund investors in the dark. This is why Better Finance decided to replicate the ESMA study as closely as possible and – using the same quantitative analysis performed by ESMA - to disclose the list of the sampled funds (attached), including those that are potentially “closet indexers” according to ESMA, and also those funds – more numerous - that ESMA did sample but did not analyse for lack of data. Better Finance used the same source as ESMA (the Morningstar fund database).

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Better Finance
Better Finance
 
 
 
 
 

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