Tuesday, 8 March 2016

EU Regulatory Framework for Financial Services: BEUC's view

The EU Commission has recently issued a Call for evidence on EU regulatory framework for financial services, aiming to understand the interaction of individual rules and the cumulative impact of all the rules, including overlaps, inconsistencies and gaps.

Responding to the call for evidence, BEUC has reviewed the existing regulatory framework for retail financial services, extending the scope of its review to supervision and enforcement activities and consumer redress schemes. The review has concluded that there are major loopholes and shortcomings in the areas of bank accounts, payment services, consumer and mortgage credit, investment products and that issues such as information disclosure, cross-selling practices and digitization and financial innovation raise special concerns. See BEUC's recommendations for remedying the identified problems and the full text of the response here.

The Commissions' current consultation and the Green Paper (that we reported on earlier) takes account of and complements this initiative.

2 comments:

  1. It's a help it will help us as a spanish law firm, thanks for the web you are sharing, really useful

    ReplyDelete
  2. I`m Charlie Bean and I live in Toronto Canada. I needed a loan to buy a house and I searched for a mortgage loan from all banks and I was denied and I loss hope of having my own house until I came across a post just as you reading my post now. I saw a post about a Financial Service Company who gives loan at 2% interest so I applied in STEAKLEY FINANCIAL SERVICES using their email steakleyfinancialservices@yahoo.com. And my loan was granted it was like a dream but was true and now am a owner of a house in Toronto and am paying the mortgage loan with no stress and I also requested if I can be granted a business loan and I was also granted. Now am living a happy life, I will advice you if you have an financial problems and you need money to settle it so you can pay with no stress just contact Steakley Financial Service at their email Steakleyfinancialservices@yahoo.com or number +1(512) 714-8010.

    ReplyDelete