Moving forward on investor protection (CEPS and Finance Watch)

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CEPS - Centre for European Policy Studies 1 Place du Congrès / Congresplein 1000 Brussels

Co-hosted by MEPs Giegold (Greens/EFA), Pietikäinen (EPP), Podimata (S&D), Schmidt (ALDE) and Swinburne (ECRG)

Investor protection is crucial to stimulate savings and investments and to promote sustainable economic growth. The EU is taking unprecedented actions to foster investor protection across sectors. Provisions to mitigate conflict of interest in selling practices in MiFID and pre-contractual disclosure under PRIPs are important initiatives. However, more remains to be done, especially in the areas of product integrity, selling practices and ongoing contractual disclosure. Complexity and prudential rules represent a potential risk of misselling and demand comprehensive action. Best execution obligations are poorly applied in practice, while further actions are needed to ensure that diversified consolidated data solutions become more accessible.

This event will be a Q&A session with CEPS and Finance Watch experts and cover issues related to investor protection and connected regulations (ex: MiFID, UCITS, PRIPs and IMD).


Importance of investor protection

  • What are the benefits of effective investor protection?
  • What are the structural problems in the provision of financial services and products?
  • Can investor protection promote sustainable growth?
  • How to promote more socially-oriented investments?

Point of sale

  • How can we address failures in the provision of financial services and products?
  • Advised- versus non-advised sales: how can we draw a clear line?
  • Should ‘inducements’ be banned for independent advice and further?
  • What are the implications of PRIPs pre-contractual disclosure?
  • Beyond disclosure and advice: any other dimensions to take into account?

Product and risk

  • How to define complex products?
  • How to act versus complex products?
  • How to disclose risks, including non-conventional ones?
  • Supervisory framework and coordination

Best execution

  • Is best execution an obligation of ‘results’ or ‘means’?
  • Is its definition too loose?
  • Are execution policies easy to understand?

Market data

  • What is impeding data consolidation in Europe today?
  • What are the pros and cons of each solution?
  • Which market behaviours are hindering consolidation at lower prices?