Date: 26th September 2017
Fully in line with BETTER FINANCE’s 2017 Briefing Paper on mis-selling of financial products as well as its study into the issue of Closet Indexing at the beginning of the year, the European Parliament’s ECON committee is now commissioning a study into the mis-selling of financial products to European individual investors, looking at how and to which degree EU rules for the sale of financial products to retail customers were implemented.
One of the areas of focus of the study will be „the marketing of financial products regulated by MiFID, UCITS or AIFMD”, including „the respect of the ‘best interest’ principle, ‘closet indexing’ practices and the obligation to publish benchmarks as laid down in MiFID”.