Better Finance: Letter to Commissioner McGuinness: "Towards “Bias-Free Advice” for Retail Investors"
29 July 2022
Stressing the importance of individual investors' access to bias-free advice for the success of the Capital Markets Union and investor protection. In its letter BETTER FINANCE proposes a staggered approach.
On 27 July 2022 BETTER FINANCE wrote
to Commissioner McGuinness to stress the importance of individual
investors' access to bias-free advice for the success of the Capital
Markets Union and investor protection. In its letter BETTER FINANCE
proposes a staggered approach as follows:
- Harmonising EU investor protection rules across all EU retail investment product sectors
- Banning commissions only for “execution-only” services
- Specifying that “acting in the best interest of clients” implies the
obligation to “not charge undue costs” and "assess whether equivalent
financial instruments can meet their client’s profile”
Read the full letter below.
Better Finance
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