Wednesday, 20 July 2016

Towards a true European Market for retail financial services- responses published

On 14 July 2016 the EU Commission has published the responses (those authorized for publication out of 428 responses received), including a very informative summary of responses (available here) in regard to the Green Paper on retail financial services.

The Green Paper is part of the comprehensive public consultation towards a 'true European market for retail financial services' that the EU Commission launched on 10  December 2015 (on which we have reported earlier). The Green Paper aims to explore the ways in which the EU market for retail financial services, i.e. insurance, loans, payments, current and savings accounts and other retail investments could be further opened up while maintaining an adequate level of consumer protection. It seeks to identify the barriers that consumers and firms face in making full use of the Single Market and the ways in which these barriers could be overcome, including the best use of technology.

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