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European Investors responds to the EC’s Green Paper on Retail Financial Services

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18 March 2016 – December last year, the European Commission published a Green Paper on Retail Financial Services. This Green Paper is mentioned as one of the action points in the Action Plan on the Capital Markets Union under the heading “increasing choice and competition for retail investors”. The objective of the Green Paper is to make it easier:

  • For companies based in one EU Member State to offer retail financial services in other Member States;
  • For consumers to be able to buy retail financial services offered in other EU Member States;
  • For citizens to take their financial service products with them if they move from one Member State to another.

The European Commission invited stakeholders to respond to the questions incorporated in the Green Paper.

European Investors’ view is that many improvements can be made to the market for investment products and securities. This market is still performing very poorly and is ranked at the last position of the 31 services markets that are analysed by the European Commission every year (EC Consumer Scoreboard). In particular, action is need to:

  • Increase the transparency and comparability of retail investment products;
  • Ensure the affordability of independent advice and other forms of guidance;
  • Enhance opportunities for investors to obtain redress, individually and collectively.

Read here the full version of the response of European Investors.

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