It is time to address the negative impacts of the conflicts of interest generated by sales commissions in the distribution of investment products to European savers

Date: 3rd March 2023
Type: Press Releases

On 2 March 2023, BETTER FINANCE was one of the two organisations representing individual investors and financial users invited by the European Commission (together with 5 financial industry representatives) to address representatives of EU Member States at a “Government Expert Group on Retail Financial Services” meeting in Brussels on the Commission’s initiative of a “Retail Investor Strategy” (RIS).

During the meeting, BETTER FINANCE pointed out that it is unfortunate that discussions on the RIS over the last two and half years have focussed solely on one possible EC proposal related to just one of the Commission’s RIS priorities, namely “ensuring bias-free advice”. Other key priorities for retail investors, such as a more coherent EU legal framework across all categories of retail investment products and clear, relevant and comparable key product information, have simply been ignored.