Insurance Europe and seven associations representing the financial services industry have together issued a statement raising multiple concerns about the European Commission’s proposed Retail Investment Strategy.
While still conducting a detailed analysis of the proposals, the associations already signal likely disruption to the EU financial sector and consumers’ access to investment products and insurance protection if the Strategy is implemented as proposed.
Background
The European Commission published its proposed Retail Investment Strategy on 24 May, which will introduce changes to the Insurance Distribution Directive, MiFID II, the UCITS Directive, the Alternative Investment Fund Managers Directive, the PRIIPs Regulation and the Solvency II Directive.