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News

“Audit reality”

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5 April 2017 - Speech by Paul M. Koster, Chairman of European Investors and Chief Executive of the Dutch Investors' Association VEB, at the IFIAR Tokyo Plenary Week: Today, ladies and gentlemen, I like to talk about audit quality and audit quality, in particular, in relation to shareholders, a group that I represent. Regulators over the last decade have greatly impacted the discussion about aud...
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European Investors expresses strong support for FSB’s recommendations on climate-related financial disclosures

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15 February 2017 – On 14 December 2017, the Task force on Climate-related financial disclosures (TCFD), set up by Financial Stability Board (FSB), published an important report outlining its recommendations for disclosures on the financial impact on climate change. These recommendations aim to make such disclosures more decision-useful and consistent, an objective strongly support by European Inve...
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BTs accounting scandal: Will auditors (again) go unpunished?

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9 Februari 2017 - Accounting scandals at listed firms often turn out to be much bigger than initially expected, investors know better than anyone. Last month, BT - formerly British Telecom –announced it had to take a write down of £530m, more than three times the expected amount. In the fall of 2016, through a whistleblower, BT first discovered “inappropriate behaviour” at its Italian branch. Dub...
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European Investors concerned about new target market rules

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13 January 2017 - As of 3 January 2018, distributors of investment products will be required to define a target market for each of the products they include in their product assortment and intend to recommend to their clients. This target market should describe for whom a particular product is intended. In principle, European Investors is very supportive of the new product governance rules introd...
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European Investors alarmed over Financial Transaction Tax

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6 January 2017 - The European Investors’ Association has noted with great concern that ten EU Member States are pushing ahead with their enhanced cooperation in the area of the Financial Transaction Tax (FTT). Introduction of a FTT would burden investors in Europe with the negative effects of a tax which is unjust, counterproductive and therefore utterly unacceptable. The participating countries ...
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German CG Code calls for close dialogue between investors and the Supervisory Board

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21 December 2016 - European Investors generally welcomes the proposed amendments to the German Corporate Governance Code. In our response to the consultation, we support the lean and transparent character of the Code, its emphasis on sustainable value creation and especially its unique recommendation on shareholder engagement which encourages regular dialogue between investors and the Chairman of ...
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European Investors calls for enhanced disclosure on the impact of climate change

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19 December 2016 - In the run up to the 2017 Annual General Meeting season, the European Investors’ Association has identified a number of key areas to which it would like to see more attention given by listed companies in the coming year. These key areas have been communicated to the Eurostoxx 50 companies. Climate change The Paris Agreement will have a serious impact on almost every listed com...
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EC set to boost competition in European fund landscape

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12 October 2016 - In the framework of the CMU initiative, the EU executive aims to increase the cross border distribution of investment funds. At the moment, despite the success of the UCITS framework, a limited number of retail funds in Europe is actually sold in more than two Member States. This means EU-wide competition is limited. This harms end-investors. Over the last four months, a consult...
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Concerns about EXOR’s minority shareholders

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7 October 2016 - On 3 September 2016 EXOR S.p.A.'s shareholders approved the company's cross border merger into EXOR N.V. and the simultaneous change of the company's articles of incorporation, significantly affecting the rights of its shareholders. European Investors, together with its Dutch member VEB, investigates whether EXOR’s intended course of action is justified according to Dutch law. EX...
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EP rejects technical rules on KID for PRIIPs: Swift action by EC required to maintain starting date!

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14 September 2016 - Today, the EP plenary passed a resolution (by 602 votes to 4, with 12 abstentions) calling for changes to the technical standards, called RTS, on packaged retail and insurance-based investment products (PRIIPs) -- a market worth up to €10 trillion in Europe. It thereby confirmed the ECON committee vote last week. The European Commission (EC) now has to revise the RTS. This mig...
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