EU Commissioner for Financial Services Mairead McGuinness spoke to MEPs on the Committee on Economic and Monetary Affairs. She gave more details on the strategy for retail investors, including how to address the ban on commissions.
The insurance and finance industry has expressed its disapproval of this ban (see EUROPE B13099A12). In their view, this ban would effectively limit the use of brokers paid by these commissions and drive consumers to other less reliable sources of information.