EU Review Misses Key Issue On Disclosure Docs, Group Says
Law360, London (February 12, 2019, 10:52 PM GMT) -- European supervisors have failed to tackle the most important issues when dropping amendments from unpopular disclosure documents for packaged investment funds earlier this month by failing to force investment managers to provide potential customers with information on the actual costs and expected performance of investing in a fund, a consumer group said on Tuesday.
Brussels-based consumer rights organization Better Finance said that the European Supervisory Authorities — the European Union's three top banking, securities and insurance regulators — have missed the mark by failing to prevent so-called key information documents from presenting information to investors in an "unreliable, not comparable and highly...
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