European Economic
and Social Committee
Eurosif - European Social Investment Forum
Summary of the initiative
Name
Eurosif - European Social Investment Forum
Website(s)
Objective(s)
Avoiding government regulation; Improving sector's image; Increasing clients' trust in the quality of the products/services; Raising industry standards; Using it as a marketing tool; Enhancing the level of information. Code that asks fund managers to disclose to their clients the social/environmental/ethical criteria they use to manage their portfolios.
Description of the Initiative
Sector
Sector
Contact Point - Commission
GROW
Self/Co-Regulation Basic Act
Self/Co-Regulation Basic Act
PRIVATE ACT
Year
2004
Title of Act
Transparency Guidelines for Retail Funds
Geographical Coverage
Description
Description
Problems that lead to the introduction of Self/Co-Regulation and the adoption of the Founding Act
Low visibility on how retail funds integrated social/environmental/ethical criteria into their SRI funds.
Target Group(s)
Financial services
Type of Instrument(s)
Unilateral code of conduct
Type of Financing
Fees and public financing
Type of Monitoring
| Conduct an initial survey of compliance capacity of future regulatees | Conduct regular visits and spot checks | Initiate complaints procedures | Maintain database of those bounded by the norms | Produce regular reports | Receive complaints and verify if norms were breached or not | Reflexive dialogue with the - stakeholders | Other | |
|---|---|---|---|---|---|---|---|---|
| European Commission | ||||||||
| National public authority | ||||||||
| International public authority | ||||||||
| Private regulator (code owner) | ||||||||
| Private independent party with a mandate (e.g. auditors) | ||||||||
| Self-appointed private parties (e.g. NGOs) |
Succinct description of the type of Monitoring
-
Type of Enforcement
| Faming, shaming and blaming | Judicial sanctions | Membership suspension/exclusion | Private fines | Other | |
|---|---|---|---|---|---|
| Private Regulator | yes | ||||
| Private independent party with a mandate (e.g. auditors) | |||||
| Court system | |||||
| Alternative dispute resolution (ADR) / Online dispute resolution (ODR) |
Succinct description of the type of Enforcement
-
Results of Commission Monitoring
Link / Reference of Evaluation
-
Downloads
-
SMO self- and co-regulation database - private code 60