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The proposals set out in the Communication focus on product disclosures and sales processes for all packaged retail investment products, such as investment funds, insurance-based investments and the various types of structured products.
Inconsistencies in existing standards can be detrimental to investors and can lead to competitive distortions in the retail investment market, the Commission says. The aim is to create consistency in approach for all different Packaged Retail Investment Products.
The Commission will work on the detailed legislative proposals and will provide an orientation on the work by the end of 2009.
The proposal will be available on the Commission website soon.