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EuroFinuse attacks lack of retail investor representation

The ShareSoc blog provides news and informal commentary from directors, members and other contributors. Entries reflect the personal views of the authors, which do not necessarily reflect ShareSoc’s formal position. Contributors may hold shares in the companies mentioned. Nothing in this blog should be viewed as financial advice. You may submit comments on blog posts, but ShareSoc reserves the right to remove or edit inappropriate or defamatory submissions.

Guillaume Prache of EuroFinuse (of which ShareSoc is a member) has been attacking the lack of adequate retail investor representation on European bodies that devise financial market regulations. Specifically he has attacked the European Securities and Markets Authority (ESMA) and its Securities and Markets Stakeholder Group where only a few of the 30 members on the committees are consumer advocates (i.e. retail investors). He complains the big banks are dominating policy development on European financial market regulations which of course now dictate local national regulations. EuroFinuse have also raised a complaint to the European Ombudsman on this matter.

The issues were covered in a lengthy article in the FTfm supplement on 26/8/2013, which can be read here:

www.ft.com/cms/s/0/c93b2a36-0bfa-11e3-8f77-00144feabdc0.html?siteedition=uk#axzz2dFzFVouu

Post Date: August 28, 2013

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