Together with the Dutch Banking Association (NVB), we advocate in a joint statement the introduction of a "light" regime for non-complex, well-spread and diversified investment products at the European level. The statement follows the proposals for a Retail Investment Strategy published by the European Commission (EC) on May 24.
Easier access for consumers
Such a regime can make it easier for consumers to access retail investment products. This is because barriers are removed during the onboarding process, when determining whether specific products fit the retail investor's needs and expectations.
Concerns over EC proposal for Value for Money concept
The statement also highlights our concerns about the EC's Value for Money (VfM) proposal. This proposal may have (unintended) negative consequences for the Dutch market where there is sufficient supply of cost-efficient investment products due to the ban on commissions. Benchmarking and the 'pricing process' as part of VfM can lead to (unintended) price intervention.
Benchmarks for transparency purposes for retail investors
In a position paper we published earlier, in addition to the possibility of a simplified regime, the possibility of using European benchmarks for transparency purposes for retail investors was pointed out. However, a good process and cooperation between (European) regulators and market participants are important.
