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The introduction of SEPA has made a cross-border, single market a reality for consumers - just a decade after the single currency itself came into being. So European policymakers are now focusing on opening retail markets. But that requires consumers to have approriate financial education, suppliers to make effective disclosure and for intermediaries to accept a proper duty of care to their retail clients. The potential for mobile phone payments brings cross-border shopping even closer for many consumers and the Consumer Credit Directive should go some way to opening up cross-border credit intermediation. MiFID and UCITS have already produced cross-border investment products that are potentially substitutes for each other and insurance products are likely to follow so Packaged Retail Investment Products (PRIPs) will be spotlighted. 

So there are new opportunities for the bold consumer - but  policy-makers must ensure that there is effective and proportionate redress to avoid the dream going sour.

We will monitor developments in this diverse field and would welcome comments about additional policy areas that should be included.

EP Library: Transparent information for retail investors

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Consumer/Retail/PRIPS - 201121 articles out of 21.
14 Dec 2011 UK's Financial Services Authority moves to raise consumer awareness of deposit protection

06 Dec 2011 EIOPA calls for paradigm shift in consumer protection

31 Aug 2011 Eurofinas comments on the G20 high level standards on financial consumer protection

30 Jul 2011 Opinion of the European Data Protection Supervisor on the proposal on credit agreements relating to residential property

18 Jul 2011 Commission recommends access to basic and affordable bank accounts for all citizens

18 Jul 2011 ECON Committee draft report on responsible lending and borrowing

05 Jul 2011 ECB opinion on the proposal on credit agreements relating to residential property

06 Jun 2011 FT: FSA issues warning on structured products

26 Apr 2011 ABI: Product intervention - FSA does not need further regulatory powers

20 Apr 2011 Basic information on Responsible lending and borrowing – Mortgage credit

13 Apr 2011 ECON committee: At least €100,000 compensation for defrauded private investors

12 Apr 2011 JURI Committee: MEPs want swift EU measures for freezing and disclosure of debtors' assets

07 Apr 2011 IMF: Reform and strengthen housing finance

31 Mar 2011 EC proposal on mortgages: Better protection for European consumers

23 Feb 2011 ALFI response to the European Commission consultation paper on legislative steps for the PRIPs initiative

14 Feb 2011 EFAMA presses European Commission to show greater ambition for Retail Investment Products Regulation

04 Feb 2011 CEA responded to EC PRIPs consultation

26 Jan 2011 UK Government announced package of measures to enhance consumer protection in the mortgage market

25 Jan 2011 McDonald PRIPS and IMD consultation responses: potential pitfalls, dangers and complexities abound

Consumer/Retail/PRIPS - 201014 articles out of 14.
08 Dec 2010 EP briefing paper on financial services and consumer rights

26 Nov 2010 Commission consults on Packaged Retail Investment Products

16 Nov 2010 FT: EU standardisation on retail investment products will hide complexities

13 Oct 2010 3L3 Task Force published a report on Packaged Retail Investment Products

07 Sep 2010 Graham Bishop: EU waves flag for consumers

12 Jul 2010 Commission proposes package to boost consumer protection and confidence in financial services [Proposal]

06 Jul 2010 EPC: Exploring the mobile eco-system to promote SEPA

17 Mar 2010 FSA OFT and Financial Ombudsman Service propose consumer protection committee to monitor emerging risks

08 Mar 2010 European Parliament – SEPA question + Video

03 Feb 2010 Eurofinas financial education has a key role to play

21 Jan 2010 Eurofinas believes the proposed Consumer Rights Directive is an ill suited framework for the lending market

15 Jan 2010 Commission consults on tying and other unfair commercial practices in the retail financial service sector

15 Jan 2010 Commissioner-designate for Health and Consumer Policy Dalli wants well informed consumers who can take educated decisions

Consumer/Retail/PRIPS - 200927 articles out of 27.
16 Dec 2009 Updated report on Commission work on packaged retail investment products

09 Dec 2009 Eurofinas’s comments on Commission Consultation responses on responsible lending and borrowing

30 Nov 2009 Commission published summary of responses to the public consultation on responsible lending and borrowing

29 Oct 2009 Deutsche Bank: 10 Imperatives for SEPA Migration and Completion

29 Oct 2009 FSA begins new banking regulation to promote fairness for consumers

15 Oct 2009 EUROFINAS stresses the important role that consumer credit providers can play in the field of financial education

15 Oct 2009 ECB’s Tumpel-Gugerell:”Payments are becoming European”

14 Oct 2009 Commissioner McCreevy:”It is essential that banks adhere to the SEPA Direct Debit Scheme”

30 Sep 2009 Single Euro Payments Area (SEPA): Commission consultation shows general support for end-date for SEPA migration

23 Sep 2009 Consumers: Commission report criticises “opaque” bank fee charges

11 Sep 2009 Single Euro Payments Area: Commission presents actions to make SEPA a success

10 Sep 2009 ECB Gertrude Tumpel-Gugerell: SEPA for cards.

08 Sep 2009 McCreevy: Action needs to be taken at EU level on responsible lending and borrowing

07 Sep 2009 EUROFINAS: first identify what and where the real problems are before considering any European initiative on lending and borrowing.

03 Sep 2009 Commission hearing on responsible lending and borrowing.

10 Aug 2009 Eurosystem consults on draft oversight frameworks for credit transfer and direct debit schemes

01 Jul 2009 McCreevy: Consumer protection in financial services

15 Jun 2009 Eurfinas welcomes report on Credit Histories

15 Jun 2009 Commission Consultation on Responsible Lending and Borrowing in the EU

15 Jun 2009 Commission Consultation on Expert Group report on Credit Histories

15 Jun 2009 Commission consults on responsible lending and borrowing in the EU

29 Apr 2009 Commission Communication on packaged retail investment products

28 Apr 2009 Commissioner Kuneva outlines roadmap on retail financial services

07 Feb 2009 Commission consultation on ensuring access to a basic bank account

02 Feb 2009 Commissioner Kuneva to focus on retail banking issues

19 Jan 2009 Commission launches European database for financial education

Consumer/Retail/PRIPS - 200857 articles out of 57.
18 Dec 2008 Single Market Review: one year on

02 Dec 2008 EBIC common principles for bank account switching

27 Nov 2008 Commission green paper on collective redress

21 Nov 2008 MLex Comment - Retail banking regulation after the state bail-outs

11 Sep 2008 Kuneva announces report on retail banking for next year

10 Sep 2008 IMA - Retail investors optimistic despite credit crunch

09 Sep 2008 ECMI summary on hearing on retail investment products

15 Jul 2008 DG MARKT: open hearing on retail investment products

11 Jul 2008 Commission consultation on classifying and reporting consumer complaints

01 Jul 2008 UK authorities consult on financial stability and depositor protection

01 Jul 2008 French Presidency Work Programme

30 Jun 2008 Fin-Focus Newsletter No 5

26 Jun 2008 Single Market News No 50

25 Jun 2008 McCreevy - No need to revise E-Commerce Directive

20 Jun 2008 Commission to propose new framework of consumer contract law

18 Jun 2008 Mlex: EC plots regulation to take on retail banks over account switching

13 Jun 2008 MasterCard temporarily repeals cross-border MIF

10 Jun 2008 Council Presidency - 18 month draft programme

04 Jun 2008 MLex: Banks seek solution to EC's payments network concerns

03 Jun 2008 CEPS: EU Retail Financial Market Integration - Mirage or Reality?

02 Jun 2008 ELEC Cahier Boël on Pan-EU retail banking

28 May 2008 EU study on preventing financial exclusion

22 May 2008 Technical workshop with industry representatives on PRIPs

20 May 2008 EP adopted EU consumer policy strategy

02 May 2008 MLex: EC rejects MasterCard's request to extend deadline for redrafting card fees

29 Apr 2008 Speech Kuneva: Transformation of European consumer policy law

22 Apr 2008 Speech Kroes: Consumers at the heart of EU Competition Policy

16 Apr 2008 FT: European banks to decide on Visa rival

14 Apr 2008 MLex: ECB plots break-up of payments 'duopoly', warns against sharp drop in card fees

03 Apr 2008 Commission White Paper on compensating consumer

03 Apr 2008 Commission feedback statement on call for evidence on retail investment

02 Apr 2008 MLex: EC's Visa investigation puts national card fee probes on hold

02 Apr 2008 Visa Europe to strike deal on interchange fee

02 Apr 2008 CEIOPS new working group on consumer protection

28 Mar 2008 Commission Economic Papers: Financial Market Integration under EMU

26 Mar 2008 Commission opens formal proceedings against Visa Europe

18 Mar 2008 CEA – collective redress schemes should not result in disincentives for business

17 Mar 2008 DG MARKT feed-back statement on PRIP’s

14 Mar 2008 finextra: MasterCard claims US court ruling 'reaffirms legality of interchange'

12 Mar 2008 ESBG: No US-model of the “class actions” on consumer collective redress

03 Mar 2008 Economic Times: MasterCard challenges EU antitrust ruling

03 Mar 2008 MLex: MasterCard files card fee appeal, EC publishes decision

28 Feb 2008 CESR summary on administrative measures on MAD

28 Feb 2008 Single Market News 49

20 Feb 2008 Speech Kroes: Competition Policy challenges in 2008

15 Feb 2008 CESR advice to improve retail investor information for UCITS

13 Feb 2008 Commission policy priorities for 2009

06 Feb 2008 MLex: 'Surcharging' may be risky tool for card fee transparency

06 Feb 2008 FSA Business Plan for 2008/9

04 Feb 2008 Commission consultation on consumer collective redress benchmarks

01 Feb 2008 EFAMA's comments on “substitute” retail investment products

31 Jan 2008 Commission launches EU consumer investigations in retail markets

30 Jan 2008 HM Treasury: Consultation on Financial stability and depositor protection

29 Jan 2008 Commission study on EU conveyancing services market

18 Jan 2008 ISDA joint statement on ‘substitute’ retail investment products

18 Jan 2008 Commission call for evidence concerning Packaged Retail Investment Products

14 Jan 2008 Speech Kroes: Europe's Payment systems after the MasterCard decision

Consumer/Retail/PRIPS - 200726 articles out of 26.
21 Dec 2007 Commission Fin-Focus Newsletter December 2007

20 Dec 2007 MasterCard appeals to consumers over interchange ruling

20 Dec 2007 EBF statement on integration of Financial Services

19 Dec 2007 Commission prohibits MasterCard's intra-EEA Multilateral Interchange Fees

19 Dec 2007 EC rules MIF fees 'not illegal' as such

13 Dec 2007 Commission published European Financial Integration Report 2007

12 Dec 2007 Single Market News No 48

03 Dec 2007 Speech Kroes: Key challenges and trends for Europe's retail payment systems

30 Nov 2007 EC readies MasterCard card-fee decision for year-end

21 Nov 2007 Report of hearing on retail financial services

21 Nov 2007 Report on the Hearing on Green Paper on Retail Financial Services

20 Nov 2007 Commission presents single market review

16 Nov 2007 Commission to go easy on retail banking for now, but threatens tougher regulation

24 Oct 2007 Pressure on MasterCard rises as wait for card fee ruling drags on

17 Oct 2007 EU tells Groupement des Cartes Bancaires to end anti-competitive practices

17 Oct 2007 EU to rule on MasterCard interchange fees 'as soon as possible'

09 Oct 2007 Results of public consultation on Review of Consumer Acquis

09 Oct 2007 Single Market News 47

03 Oct 2007 Commission fines Visa €10.2 million for refusing to admit Morgan Stanley as a member

01 Oct 2007 BBA: Deposit guarantee reform just part of the story

17 Jul 2007 Hungary looks into card fees as EC works on MasterCard decision

12 Jul 2007 Italian authority ensures banking association stops possible anticompetitive practices

03 Jul 2007 Italian authority launches investigation into prepaid cards

01 Mar 2007 Single Market in Financial Services Progress Report 2006

28 Feb 2007 BdB: No question of a true single market for financial services

23 Feb 2007 Single Market News No 44

Consumer/Retail/PRIPS - 200613 articles out of 13.
09 Aug 2006 Single Market News 42

17 Jul 2006 Kroes: opening remarks on public hearing of retail banking sector inquiry

22 Jun 2006 Speech McCreevy on the Commission's White Paper

20 Jun 2006 Speech McCreevy on Annual Policy Strategy

07 Jun 2006 Speech McCreevy: Improving decision-making and completing the single financial market

06 Jun 2006 Speech Kroes: Tougher competition in retail financial services

12 Apr 2006 Commission Consultation on Interim Report on Payment Cards and Payment Systems

12 Apr 2006 Speech Kroes on Payment Cards competition inquiry

04 Mar 2006 Article Draghi: Financial market integration and the intermediation of savings

14 Feb 2006 Council conclusions on Aging Population

08 Feb 2006 FBE comments on White Paper on Financial Services

31 Jan 2006 ECON Hearing on further consolidation in Financial Services Industry

17 Jan 2006 EFR report on consumer protection

Consumer/Retail/PRIPS - 20057 articles out of 7.
08 Jul 2005 Commission report shows potential benefits of further integration

13 Jun 2005 Commission sector inquiries into retail banking and business insurance

02 Jun 2005 The Demographic Impact: Is the Pensions Crisis Mortality or Fertility?

16 May 2005 Summary of conclusions of MiFID Consumer Day, 22 March

06 May 2005 BdB comment on McCreevy Green Paper: Glass is only half full

20 Apr 2005 Speech McCreevy: The integration of Europe’s financial markets and international cooperation

10 Mar 2005 Speech: McCreevy outlines the Financial Services Agenda

Consumer/Retail/PRIPS - 20042 articles out of 2.
29 Oct 2004 Single Market News No. 35

05 Jul 2004 Single Market News No 34