Regulatory radar - issue 41 (January - February 2012)
The past months a number of interesting documents have been issued on a global and EU level related to financial consumer protection e.g. the Eurobarometer on retail financial services, IOSCO Suitability requirements for complex financial products, the EBA Financial Innovation and Consumer Protection overview and the EIOPA Overview of Key Consumer Trend in the EU.
The European Supervisory Authorities also published its working programs for 2012.
In relation to pensions the European Commission published its white paper on adequate, safe and sustainable pensions and EIOPA its final advice on the IORP Directive Review.
In the area of payments, the Commission released a green paper on integrated European market for card, internet and mobile payments.
A new document on the AIFMD has also been released i.e. ESMA’s discussion paper on key concepts of the Alternative Investment Fund Managers Directive and types of AIFM.
Finally, on a somewhat more general note but very relevant, the European Commission published its proposals for a Data Protection Reform package. The proposals consist of a Regulation setting out a general EU framework for data protection (replacing the Current Data Protection Directive) and a Directive on protecting personal data processed for the purposes of prevention, detection, investigation or prosecution of criminal offences and related judicial activities.
We hope you enjoy the reading.
The Editorial Board