Retail financial services and insurance

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EESK atzinums: Retail financial services and insurance

Key points:

 

The EESC:

  • welcomes that the Commission is on track and has an ambitious programme for implementing the Action Plan on Building a Capital Markets Union;
  • endorses the idea of endeavouring to facilitate the cross-border penetration of retail financial services and the possibilities for consumers to switch providers;
  • welcomes the Commission's approach in the Green Paper of seeking suitable policies to stimulate both sides of the retail financial services market: supply and demand;
  • endorses that consumers should be given the opportunity, whenever possible, to compare different products, so they can make an informed choice;
  • is of the view that results from this consultation need to be translated into a more ambitious programme that overcomes the longstanding problems;
  • suggests that the results from the consultation process be applied as a matter of priority to simpler products for which local factors have comparatively less importance;
  • finds it imperative to make every effort to avoid reopening Directives (such as PSD 2 and MCD) that have been just adopted.

 

 

Roadmap to the Green Paper on Retail financial services and insurance - European Commission

Other relevant EESC opinions on Retail financial services and insurance:

Other relevant EESC opinions:

For more information please contact the INT Section Secretariat.

Downloads

Key facts on cross-border consumer finance in Europe