See EESC opinion in all languages under Related documents at the end of this page.
Key points: The EESC:
- has been calling for measures to ensure that the mandatory information for retail investors is clear, exhaustive, essential and transparent, especially where packaged and structured products are concerned;
- considers the Commission's proposal a step in the right direction;
- agrees that information on possible profits, including any levies and commissions linked to the product, should be provided;
- considers it essential that the supervisory activity of the relevant authorities, at both national and European level, be stepped up;
- is seriously concerned at the Commission's view that the role of the European authorities under the current regulation does not require reinforcement;
- urges rapid movement towards a single model of information leaflets instead of the current two;
- regrets that no mention is made of the implications regarding third country products, and urges the Commission to think about the need to explicitly include such a provision in the regulation;
strongly urges the Commission to monitor the effectiveness of the sanctions that the Member States are to determine.
Other relevant EESC opinions:
- Consumer information
- Financial education and responsible consumption of financial products
- Green Paper on Retail Financial Services in the Single Market
- Opinions on Financial Markets
For more information please contact the INT Section Secretariat