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Retail investment strategy: does it address the priorities? (expected impact, pending issues, role of technology)

Day 2 Morning

Thursday 12 September

Room :

ROOM 1

Speakers

Chair
Rodrigo Buenaventura
Chair - Spanish Securities and Exchange Commission (CNMV)
Public Authorities
Christophe Bories
Head of Service for the Financial Sector - Ministry of the Economy, Finance and Industrial and Digital Sovereignty, France
Stéphanie Yon-Courtin
MEP & ECON Renew coordinator - Committee on Economic and Monetary Affairs, European Parliament
Industry Representatives
Daniel Kapffer
Chief Financial Officer & Chief Operating Officer - DekaBank Deutsche Girozentrale
Jerome Lachand
General Secretary - CCF Group
Giulio Terzariol
Chief Executive Officer-Insurance - Generali
Other stakeholder & expert
Aleksandra Maczynska
Executive Director - Better Finance

Objectives

This session will take stock of the approaches adopted by the co-legislators on the RIS proposals, discuss issues that remain to be further clarified for the implementation of the RIS and identify further measures that may need to be considered for supporting retail investment.

The discussion will focus on the scope of the RIS proposals: i.e. measures to empower retail investors to make investment decisions in line with their needs and preferences and to ensure that investors are treated fairly and adequately protected. Aspects related to investment products in particular (e.g. the proposals made to create a new EU long term retail investment product or label, possible review of investment funds or private pension products) will be discussed in other sessions of the Forum.

Points of discussion

  • RIS proposals: Will the RIS measures, considering the positions agreed by the co-legislators, support retail investment? Are there major issues remaining to be clarified or specified for the successful implementation of the RIS measures? Do the RIS measures agreed raise any feasibility or implementation issues?
  • Further actions to support retail investment: What should be the main objectives of further policy work in the area of retail investment e.g. attracting new investors to the markets, ensuring that existing investors are appropriately treated and advised…? Could more be done to achieve the objectives of the RIS in terms of empowerment, fair treatment and protection of retail investors? Are further policy measures needed to stimulate effective competition in the retail investment market and ensure that retail investors have access to appropriate advice and products at reasonable fees? Could digital tools play an important role in this respect?