EU Tests To Aid Investors Faulty, Finance Watchdogs Say
Law360, London (August 8, 2019, 2:48 PM BST) -- European financial regulators have questioned the European Commission’s decision to turn down some of their recommendations for assessing how consumers would be helped by a new investment disclosure regime for fund managers.
The commission, the European Union’s executive arm, should reconsider its decision to exclude three of six scenarios suggested by the regulators for examining how controversial new rules governing packaged retail and insurance-based investment products, known as PRIIPs, will affect consumers. The industry has warned of “serious detriment” to investors.
The European Banking Authority, the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority said their ability...
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