Progress was made on Tuesday 23 September 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 negotiators have provisionally reached agreement on the framework for supervising financial service providers, particularly with regard to granting, monitoring and withdrawing authorisations, as well as on the rules for access to the European market for third-country players.
“We are taking a practical step towards a Savings and Investment Union with an agreement to strengthen our national and European supervisors. As a next step, we will continue discussions on the most political subjects: ‘value for money’, ‘inducements’ and the ‘customer journey’”, said Stéphanie Yon-Courtin (Renew Europe, French), European Parliament rapporteur, in a written statement sent to Agence Europe on Tuesday evening.
A new round of negotiations is scheduled for the end of October.
At the beginning of July, the European Parliament and the Council of the EU had already agreed on other aspects of the reform, in particular the rules concerning ‘finfluencers’ (see EUROPE 13678/32 and 13713/9). (Original version in French by Bernard Denuit)