8 Amendments of Antolín SÁNCHEZ PRESEDO related to 2011/2149(INI)
Amendment 3 #
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Emphasises that, according to the fourth edition of the Consumer Markets Scoreboard, most consumers do not know their basic rights in the field of financial services, over 98% are not in a position to be able to choose the most appropriate investment option, and the cost of the problems they encounter is estimated at 0.4% of the EU's GDP; considers that financial education, sound information and the availability of financial expertise are necessary to rectify this situation;
Amendment 5 #
Draft opinion
Paragraph 4
Paragraph 4
4. Calls for the strategy to recognise that disclosure of information is necessary but not sufficient by itself to provide reliable and competitive markets in which consumers can make decisions in their best interest; in this respect, advocates improvements in transparency, the promotion of professional standards, the avoidance of conflicts of interest and careful risk assessment;
Amendment 8 #
Draft opinion
Paragraph 5
Paragraph 5
5. Given the nature, complexity and scale of the impact on consumers of financial services, calls for a presumption in the strategy that new legislation should btake the specific tocharacteristics of financial services, rather than grouping financial servi into account, paying attention to the differences with other sectors, where as regards consumer needs and behaviour are different; stresses that these specific characteristics may neither give rise to a legal vacuum nor entail inconsistencies or a lower level of protection than in other sectors;
Amendment 11 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Calls for progress towards the development of a European Charter for Consumer Rights in the field of financial services; states that this Charter should collate and simplify existing provisions, specify rights such as access to information, control of financial records, access to appropriate financial education and expertise or financial inclusion, incorporate best practices from Member States, facilitate collective redress, and lay down the obligation to compile an annual report on problems in the field of financial services encountered by consumers in the internal market;
Amendment 13 #
Draft opinion
Paragraph 6
Paragraph 6
6. Points out that the new European Supervisory Authorities have explicit powers and responsibilities relating to consumer protection in financial services and expects the strategy to reflect and build on these; draws attention to the need to promote the involvement of all stakeholders and calls for support for consumer representatives so that they can carry out their work properly and on an equal footing with other parties;
Amendment 17 #
Draft opinion
Paragraph 7
Paragraph 7
7. Calls for explicit links between the strategy and the programme for competition policy, and joined-up action to achieve thiensure value for consumers allowing them to benefit from offers under better conditions and from services that are more adapted to their needs;
Amendment 21 #
Draft opinion
Paragraph 8
Paragraph 8
8. Calls for tangible progress in the development of the internal market in the field of financial services and for stronger protection in cross- border transactions, in particular for on- line products and services;
Amendment 28 #
Draft opinion
Paragraph 9
Paragraph 9
9. Underlines the need to support financial inclusion, for example through access to basic banking services, product diversity and the exclusion of arbitrary and discriminatory action in the field of financial services; urges the Commission to move beyond the recommendations in this area;