On the 15th of May, Better Finance held a press conference presenting its 10 priorities for the next 5 years, ahead of the European elections on the 26th of May. While EU Policy makers have been focusing on financial stability over the last years, consumers have continued to experience sub-par performance and protection in financial services, especially in investment products.
To remedy this situation, Better Finance will focus on key priorities:
- A better access to simple and transparent financial products;
- Better access to comparable, fair, clear and not misleading information about the financial products being proposed to them;
- Ensure fair and equal access to redress (including collective redress);
- Ensure consistency of all EU financial user protection rules (detect where in the EU regulation there may be contradictory or inconsistent rules);
- Make the European Capital Markets more attractive for EU citizens as savers and investors;
- Improve the competitiveness of European Capital Markets in particular for SMEs;
- Improve long-term and sustainable value creation, especially by including the sustainability criteria in investment products;
- Promote independent investor education as key to the success of the CMU (without using this as an excuse to justify selling complex products);
- Sustain the EU support to the involvement of EU citizens in EU financial services policy making (ensure a broad representation of independent experts from user/consumer organizations in all expert consultative groups of the EU institutions, and ensuring they are adequately compensated for their work);
- Increase the effectiveness of the EU institutions’ procedures (make sure that deadlines for introducing new legislations are reasonable, and ensure that enforcement of current regulation is high via the various supervisory bodies).
Better Finance also contacted all European Political Parties and MEPs to answer questions which would enable to situate their positions and policies on the core priorities of Better Finance. You can find the responses here: https://betterfinance.eu/publication/presentation-of-the-key-priorities-2019-2024-response-from-eu-political-parties/
COFACE-Families Europe will continue to follow the work of Better Finance, as ensuring a safe and sound capital market for long-term investment is essential for families seeking to save/invest responsibly for their future.
For more information, please visit Better Finance’s website here: https://betterfinance.eu/
Or contact Martin Schmalzried: firstname.lastname@example.org