Brussels, 30/04/2009 (Agence Europe) - On Wednesday 29 April, Commissioner McCreevy, in charge of the single market, declared: “The financial crisis has seen a collapse in retail investor confidence. Assets in packaged retail investment products have collapsed from €10 trillion in 2007 to around €8 trillion at the end of 2008. In order to re-engage investor confidence it is vital that retail investors can make informed investment decisions in markets that they can trust”. Following consultation, the European Commission will propose the harmonisation of pre-contractual information at a European level for retail investment products and rules governing the sale of these products in the EU (EUROPE 9891). According to McCreevy, this initiative should respond to two questions: “Do investors get the information they need about the products before they buy? Are investors treated fairly when buying?” On Monday, his counterpart in consumer protection, Meglena Kuneva appealed for a limit to be placed on investors' exposure to financial risks. Ms Kuneva declared: “In the market of goods, we do not tolerate the possibility of extreme damage to consumers. We do not rely on the good faith of the traders and the alleged vigilance of consumers but require that a regulator guarantees a satisfactory degree of safety. Doesn't the regulator have similar responsibilities in the market of retail financial services? I believe we must limit the risk in retail financial markets and exclude certain 'toxic' products from its retail shelves”. (M.B./transl.rh)