6 Amendments of Danuta Maria HÜBNER related to 2016/2056(INI)
Amendment 80 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Recalls that all initiatives based on the Green Paper should be compatible with stepping up the fight against tax fraud and, tax evasion and money laundering;
Amendment 94 #
Motion for a resolution
Paragraph 6
Paragraph 6
6. Notes the increasing complexity of retail financial products; insists on the need to develop less complex financial products and to support initiatives and instruments that allow consumers to identify safe and simple products within the range of products available to them; supports initiatives such as the Key Investment Information Document for undertakings for collective investments in transferrable securities (UCITS) and the Key Information Document for packaged retail and insurance-based investment products (PRIIPs);
Amendment 106 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. RecallsTakes note of the recent developments in the legislative framework for the banking sector, in particular the Bank Recovery and Resolution Directive (BRRD) and the Deposit Guarantee Schemes Directive; insists on the need to inform consumers fully about the impact of the new rules; (DGSD); recalls that the new resolution regime introduced has resulted in some instruments offered to retail investors involving a higher risk of loss than under the previous regime, of which investors should be aware; insists on the need to inform consumers fully about the impact of the new rules; draws attention in this regard to the statement of the European Securities and Markets Authority (ESMA) of 2 June 20161a reminding firms of their responsibilities under the Markets in Financial Instruments Directive (MiFiD) when selling financial instruments subject to the BRRD resolution regime and calls for full and proper implementation of the guidelines set out therein; __________________ 1aStatement ESMA/2016/902 of 2 June 2016 “MiFiD practices for firms selling instruments subject to the BRRD resolution regime”.
Amendment 128 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Observes that digitalisation can bring benefits for retail investors, such as easier comparability of products, better and easier access to cross-border investment and the ensuing fairer competition between providers as well as faster and easier registration and payment processes and resulting lower transaction costs, but can also pose challenges that cannot be ignored, such as ensuring compliance with know-your -customer (KYC), anti-money laundering (AMLD) and data protection requirements, as well as risks such as vulnerability of centralised systems to cyber-attacks; calls for emerging and current trends on financial markets and the resulting benefits and risks to be identified and monitored, using as a benchmark their likely impact on retail investors;
Amendment 137 #
Motion for a resolution
Paragraph 8 b (new)
Paragraph 8 b (new)
8b. Stresses the importance of financial education as a tool to protect and empower consumers; calls on access to independent financial education to be widened and facilitated;
Amendment 154 #
Motion for a resolution
Paragraph 9 a (new)
Paragraph 9 a (new)
9a. Highlights that access to affordable and independent advice is key to sound investment decisions; observes that a supply of affordable, targeted financial advice, that would be narrower in scope than proper MiFiD-regulated investment advice, is currently lacking, in spite of the existing demand; takes note of the reflections conducted and initiatives taken in some Member States on the creation of such an intermediate service; calls on the Commission, Member States and market actors to identify, study and follow good practices and initiatives in this regard;