Retail Financial Services - Deutsches Aktieninstitut’s response to the EU Commission’s Green Paper

Deutsches Aktieninstitut appreciates the initiative of the EU Commission to determine, how the market for retail financial services can be further opened up, whilst maintaining an adequate level of consumer and investor protection. However, the baseline assumptions of the EU Commission’s Green Paper on “Retail financial services - Better products, more choice, and greater opportunities for consumers and businesses” (COM(2015) 630 final) from December 2015 does not properly reflect the present situation and consequently could lead to a legislative outcome, which brings rather distortions to the market than improvements. Especially the wide scope of the Green Paper, including “all” retail financial Services, could lead to unintended negative consequences on some of these products.