Brussels, 16/04/2014 (Agence Europe) - On Tuesday 15 April, the European Parliament set in stone the EU regulation introducing new pre-contract information to be provided to retail financial product consumers from 2016 onwards (see EUROPE 11052).
A document containing key information will be rolled out for use throughout the EU providing details of the nature, objectives, risks and commission received by financial intermediaries for retail investment products in order to help people make informed choices and be able to shop around. A comprehension warning will inform investors that they are about to buy a complex and risky product that may have been sold fraudulently in the past.
The new regulation will not cover most savings products, non-life insurance or private pensions . (MB)