Progress was made on Wednesday 9 July in the negotiations on the retail financial investment package between representatives of the European Parliament and the Danish Presidency of the Council of the European Union (trilogue).
The main advance concerns ‘finfluencers’, individuals who promote financial products to the general public on behalf of financial companies. As MEPs have been advocating, ‘finfluencers’ will have to sign a contract with the issuer of the financial products they are promoting. This will increase their responsibility and enable the competent authorities to better monitor any abusive sales practices.
“The agreement [...] on ‘finfluencers’ and financial education marks the start of a solid partnership with our Danish colleagues to make progress on a key dossier: the ‘retail investment’ package”, said Stéphanie Yon-Courtin (Renew Europe, French), Parliament’s rapporteur, in a written declaration sent to Agence Europe on Thursday 10 July (see EUROPE 13640/23).
On financial education, the negotiators have agreed new measures that will complement the future European strategy in this area.
The next trilogue negotiations could take place at the end of September on an issue that has been made a priority by the Danish Presidency of the Council of the EU (see EUROPE 13671/7). (Original version in French by Mathieu Bion)