|
|
Inducements, already banned in Britain and the Netherlands, refer to payments, such as in the form of commission, paid by banks to distributors, brokers or investment advisors who recommend their products to a retail customer.
McGuinness is due to set out a new retail investment strategy to help deepen the bloc's capital market.
In a letter dated Dec. 21 and seen by Reuters to Markus Ferber, a senior member of the European Parliament, she backs scrapping inducements, which would trigger a fundamental change in banking business models.
Ferber told McGuinness in October he would strongly advise against banning inducements....
more at Reuters