21/03/2024 (Agence Europe) – MEPs on Parliament’s Committee on Economic and Monetary Affairs (ECON), who voted on Wednesday 20 March on the retail investment strategy (see EUROPE 13375/29), remain divided in the wake of the vote. The S&D and the Greens/EFA believe that the text does not legislate sufficiently on the issue of financial retrocessions. “The proposal put forward to yesterday’s vote by the rapporteur Yon-Courtin foresees no ban at all and includes several worrying parts, including weakened rules on value for money and other safeguards proposed by the Commission to protect small investors when they receive investment advice. For the progressives, this is unacceptable”, said Jonás Fernández (S&D, Spanish). For her part, the rapporteur, Stéphanie Yon-Courtin (Renew Europe, French), said on Wednesday that the vote was “a major step forward for capital markets union”, deploring the fact that the Greens/EFA and the Socialists had “left the negotiating table”. (BD)