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20/09/2017
 

ESAs - TODAY S PROPOSED REFORM OF EUROPEAN FINANCIAL SUPERVISION SAVERS AND OTHER FINANCIAL SERVICES USERS RISK SUFFERING MORE - 200917


20 September 2017 - The European Commission (EC) announced its proposal to improve the supervision of European financial services as well as its revision of the European Supervisory Authorities (ESAs) today. BETTER FINANCE welcomes the proposal to have permanent members on the Boards of Supervisors of the ESAS as an improvement to their governance. However, as the proposal lacks ambition with regards to consumer and investor protection and fails to give the ESAs teeth with which to enforce EU Law, the outlook for the public enforcement of conduct of financial business rules looks grim.

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BETTER FINANCE
 
 
 
 
 
18/09/2017
 

PR - INDIVIDUAL SHAREHOLDER REPRESENTATIVE SELECTED BY EC TO ADVISE ON IMPLEMENTATION SRD - 150917




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03/08/2017
 

PR- BANCA MPS AND INDIVIDUAL SHAREHOLDERS DAMAGE MOCK AND GUILTY CONSCIENCE


BETTER FINANCE supports Azione MPS's position in BANCA MONTE DEI PASCHI DI SIENA rescue plan.

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BETTER FINANCE
 
 
 
 
 
01/08/2017
 

The Luxembourg Financial Supervisor finally - but disappointingly - reports on closet index funds


A year and a half after ESMA asked CSSF (the Luxembourg supervisor) to investigate the potential cases of closet indexing (falsely active funds) it identified in Luxembourg. Many months after its colleagues from other important fund domiciles such as the UK, France and Germany had completed - and reported - on their own investigations, CSSF published its weak conclusions on the 28th of July.CSSF found only one closet indew funds, it does not disclose what is its definition of "closet indexing" and CSSF does implicitly and very vaguely acknowledge however that "some" funds violate disclosure rules on benchmarks.

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BETTER FINANCE
 
 
 
 
 
31/07/2017
 

ESAs advise on PRIIPS with environmental or social objectives


On 28 July 2017, the European financial regulators (ESAs) released their technical advice on the contents of the Key Information Document (KID) for packaged retail and insurance-based investment products (PRIIPs) with environmental and social objectives (EOS PRIIPS). Surprisingly the Governance component of the "ESG" (Environmental, Social and Governance) investment approach is excluded. The ESAs confirm most unfortunately that investors will not have any information on whether the provider has met its investment objectives or not and by how much: the provider only has to disclose these objectives “and how these will be achieved".

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BETTER FINANCE
 
 
 
 
 
19/07/2017
 

PRESS RELEASE- BETTER FINANCE Executive Director Aleksandra Maczynska


BETTER FINANCE has the pleasure to announce that Aleksandra Maczynska has just joined its Brussels team as number two.

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BETTER FINANCE
 
 
 
 
 

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