BVI on the Retail Investment Strategy
On 24 May 2023, EU Financial Markets Commissioner Mairead McGuinness unveiled a proposal for a retail investment strategy.
Thomas Richter, CEO of the German Investment Funds Association BVI, says:
‘Mairead McGuinness' proposal contains both good and bad. On the good side, retail investors will keep access to a wide range of advice. In this way, they can easily carry on benefiting from the opportunities of the capital markets and build up their private old-age provision. However, we oppose the commission ban in respect of non-advised sales, as well as the additional requirements regarding commission-based advice. These measures will not further increase the current level of investor protection, which since MiFID II is already very high.’