BETTER FINANCE - European Federation of Investors and Financial Services Users

We are pleased to share the special edition of the BETTER FINANCE newsletter!   In this issue, we begin with a recap of 2024, followed by highlights of our recent policy engagements, advocacy efforts, and notable developments in EU financial regulation.   📢 𝐑𝐞𝐚𝐝 𝐭𝐡𝐞 𝐧𝐞𝐰𝐬𝐥𝐞𝐭𝐭𝐞𝐫: https://bit.ly/bf-news-eu   At BETTER FINANCE, we remain committed to fostering a fair and transparent financial system for all European citizens. Thank you for your continued support this year.   Wishing you a joyful holiday season and a successful New Year!

💬 In her closing remarks, Aleksandra Mączyńska, Managing Director of BETTER FINANCE - European Federation of Investors and Financial Services Users, thanked attendees for a day of engaging discussions on Europe's competitiveness, economic challenges, and the need for financial resilience, at today's joint BETTER FINANCE - DSW conference in Wiesbaden. 💡 She emphasised the urgency of closing the widening economic gap between Europe and global powers, noting that proposals discussed aligned with BETTER FINANCE and DSW's advocacy for simpler, principle-based rules and more efficient savings allocation. Mączyńska pointed out the critical issue of misallocated savings in low-yielding vehicles, stressing the need to mobilise individual investors to support small and mid-sized businesses and revitalise IPO activity. 📊 She also highlighted the importance of a broader Savings and Investment Union (#SIU) to boost European competitiveness. 🌍 She urged the financial industry to address longstanding biases and conflicts of interest hindering retail investment product distribution in Europe, warning that Europe's competitiveness will remain stagnant unless investor outcomes improve. Ending on a positive note, Mączyńska expressed optimism about the ongoing dialogue with the European Commissioner for Financial Services, Ms Maria Luís Albuquerque, hoping the discussions will lead to coordinated, bold actions to improve the investment climate in Europe. #EUCompetitiveness #FinancialResilience #RetailInvestment #Sustainability #EconomicGrowth #FinanceReform

Guillaume Prache delivered a powerful intervention during today’s panel on “𝐓𝐡𝐞 𝐄𝐔 𝐀𝐠𝐞𝐧𝐝𝐚 2024 - 2029: 𝐑𝐞𝐯𝐚𝐦𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐂𝐌𝐔” at the International Investors’ Conference in Wiesbaden. The event, organised by BETTER FINANCE and DSW, carried the thought-provoking theme, "Europe at a Crossroads - Are We Still Competitive?" 🛡️ During his intervention, Prache, Founder and Senior Advisor at BETTER FINANCE, delivered a compelling assessment of Europe’s financial and economic challenges, urging immediate reforms to secure the continent’s future. "𝘌𝘶𝘳𝘰𝘱𝘦... 𝘪𝘴 𝘶𝘯𝘥𝘦𝘳 𝘴𝘪𝘦𝘨𝘦 𝘮𝘪𝘭𝘪𝘵𝘢𝘳𝘪𝘭𝘺 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘭𝘢𝘴𝘵 𝘵𝘸𝘰 𝘺𝘦𝘢𝘳𝘴, 𝘣𝘶𝘵 𝘢𝘭𝘴𝘰 𝘦𝘤𝘰𝘯𝘰𝘮𝘪𝘤𝘢𝘭𝘭𝘺 𝘧𝘰𝘳 𝘮𝘢𝘯𝘺 𝘮𝘰𝘳𝘦 𝘺𝘦𝘢𝘳𝘴." Guillaume painted a stark picture of Europe’s position, facing both external conflicts and internal stagnation. He highlighted the urgency to act decisively before the economic gap widens further. 📉 Falling Behind the US "𝘍𝘪𝘧𝘵𝘦𝘦𝘯 𝘺𝘦𝘢𝘳𝘴 𝘢𝘨𝘰, 𝘸𝘦 𝘩𝘢𝘥 𝘢𝘣𝘰𝘶𝘵 𝘵𝘩𝘦 𝘴𝘢𝘮𝘦 𝘎𝘋𝘗 𝘢𝘴 𝘵𝘩𝘦 𝘜𝘚. 𝘛𝘰𝘥𝘢𝘺... 𝘸𝘦 𝘢𝘳𝘦 𝘢𝘣𝘰𝘶𝘵 𝘩𝘢𝘭𝘧." This sobering comparison underscores Europe’s relative economic decline. While the US has leveraged innovation, capital market depth, and robust savings allocation, Europe remains fragmented and underperforming. Prache called for: ✅ 𝐒𝐢𝐦𝐩𝐥𝐞𝐫, 𝐩𝐫𝐢𝐧𝐜𝐢𝐩𝐥𝐞-𝐛𝐚𝐬𝐞𝐝 𝐫𝐮𝐥𝐞𝐬: "𝘞𝘦 𝘸𝘰𝘶𝘭𝘥 𝘭𝘪𝘬𝘦 𝘵𝘰 𝘩𝘢𝘷𝘦 𝘴𝘪𝘮𝘱𝘭𝘦𝘳, 𝘤𝘭𝘦𝘢𝘳𝘦𝘳, 𝘢𝘯𝘥 𝘱𝘳𝘪𝘯𝘤𝘪𝘱𝘭𝘦-𝘣𝘢𝘴𝘦𝘥 𝘳𝘶𝘭𝘦𝘴." ✅ 𝐈𝐦𝐩𝐫𝐨𝐯𝐞𝐝 𝐩𝐫𝐢𝐯𝐚𝐭𝐞 𝐞𝐧𝐟𝐨𝐫𝐜𝐞𝐦𝐞𝐧𝐭, highlighting the Wirecard scandal, he noted: "€20 𝘣𝘪𝘭𝘭𝘪𝘰𝘯 𝘰𝘧 𝘮𝘢𝘳𝘬𝘦𝘵 𝘤𝘢𝘱 𝘷𝘢𝘱𝘰𝘳𝘪𝘴𝘦𝘥... 𝘺𝘦𝘵 𝘵𝘰 𝘴𝘦𝘦 𝘰𝘯𝘦 𝘤𝘦𝘯𝘵 𝘰𝘧 𝘪𝘯𝘥𝘦𝘮𝘯𝘪𝘧𝘪𝘤𝘢𝘵𝘪𝘰𝘯." ✅ 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐭 𝐬𝐚𝐯𝐢𝐧𝐠𝐬 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧. European savings remain stuck in low-yield vehicles, while the US directs 68% of retirement accounts to equity investments. ✅𝐀 𝐏𝐚𝐧-𝐄𝐮𝐫𝐨𝐩𝐞𝐚𝐧 𝐓𝐨𝐭𝐚𝐥 𝐒𝐭𝐨𝐜𝐤 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐝𝐞𝐱: "𝘞𝘩𝘺 𝘯𝘰𝘵 𝘴𝘱𝘰𝘯𝘴𝘰𝘳 𝘢 𝘌𝘶𝘳𝘰𝘱𝘦𝘢𝘯 𝘛𝘰𝘵𝘢𝘭 𝘚𝘵𝘰𝘤𝘬 𝘔𝘢𝘳𝘬𝘦𝘵 𝘐𝘯𝘥𝘦𝘹? 𝘕𝘰𝘵 600 𝘴𝘵𝘰𝘤𝘬𝘴, 𝘣𝘶𝘵 5,000 𝘴𝘵𝘰𝘤𝘬𝘴 𝘢𝘤𝘳𝘰𝘴𝘴 𝘌𝘶𝘳𝘰𝘱𝘦." "𝘛𝘩𝘦 𝘶𝘭𝘵𝘪𝘮𝘢𝘵𝘦 𝘧𝘶𝘯𝘥𝘪𝘯𝘨 𝘰𝘧 𝘵𝘩𝘦 𝘦𝘤𝘰𝘯𝘰𝘮𝘺 𝘪𝘯 𝘌𝘶𝘳𝘰𝘱𝘦 𝘤𝘰𝘮𝘦𝘴 𝘧𝘳𝘰𝘮 𝘤𝘪𝘵𝘪𝘻𝘦𝘯𝘴 𝘢𝘯𝘥 𝘴𝘢𝘷𝘦𝘳𝘴... 𝘣𝘶𝘵 𝘵𝘩𝘦𝘪𝘳 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵𝘴 𝘢𝘳𝘦 𝘮𝘪𝘴𝘢𝘭𝘭𝘰𝘤𝘢𝘵𝘦𝘥." Prache emphasised the need to mobilise individual investors and savers to drive equity flows, support small- and mid-cap businesses, and revitalise IPO activity in Europe. Europe’s future depends on bold, coordinated action. Simplified regulations, better enforcement, and empowering savers can lay the groundwork for a unified, dynamic, and competitive European capital market. What are your thoughts on the challenges highlighted? How can we contribute to shaping a stronger European economy? Let’s discuss! 👇 #Wiesbaden2024 #CapitalMarkets #EconomicReform

The 2024 International Investors‘ Conference of DSW and BETTER FINANCE - European Federation of Investors and Financial Services Users themed ‚Europe at a crossroads - are we still competitive?‘ has just started in Wiesbaden, Germany. Natasha Cazenave delivered an inspiring opening speech on what is needed to create more effective and attractive capital markets in Europe. In an engaging fireside chat, Burkhard Lohr, CEO of K+S Group set out his view on the opportunities and challenges of sustainability reporting. Panels later today will discuss themes as company resilience, investor engagment and digital transformation as well as the EU Commission‘s agenda for the next five years. Looking forward to a full day of interesting and fruitful discussions with all speakers and participants! #FinancialMarkets #CapitalMarketsUnion #DigitalTransformation #InvestorsForum #EUFinance #EconomicResilience #competitiveness

During his address on 𝐅𝐮𝐭𝐮𝐫𝐞-𝐏𝐫𝐨𝐨𝐟𝐢𝐧𝐠 𝐏𝐞𝐧𝐬𝐢𝐨𝐧𝐬: 𝐂𝐫𝐞𝐚𝐭𝐢𝐧𝐠 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐚𝐧𝐝 𝐀𝐝𝐞𝐪𝐮𝐚𝐭𝐞 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐑𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞 Conference, organised as part of the European Retirement Week 2024, Zoltán Kormányos, General Counsel at BrokerChooser, underscored the pressing need for a more robust regulatory approach to tackling online investment fraud across the European Union. During his presentation on the devastating impact of investment fraud, Kormányos emphasised that: 🔍 𝐒𝐞𝐚𝐫𝐜𝐡 𝐞𝐧𝐠𝐢𝐧𝐞𝐬 should implement measures akin to those adopted during the COVID-19 crisis, where official warnings from competent authorities were prominently displayed alongside suspicious search results. 💻 A ‘𝐟𝐨𝐥𝐥𝐨𝐰-𝐭𝐡𝐞-𝐦𝐨𝐧𝐞𝐲’ mechanism should be established, obliging digital advertising platforms to block fraudulent advertisements and ensure data-sharing protocols across the ecosystem to prevent reoccurrence. 🌐 A 𝐜𝐞𝐧𝐭𝐫𝐚𝐥𝐢𝐬𝐞𝐝 𝐝𝐚𝐭𝐚𝐛𝐚𝐬𝐞 shared between hosting providers and regulatory bodies should be introduced. Such a database would facilitate the identification and deactivation of fraudulent websites. 🏦 The establishment of an 𝐄𝐔-𝐰𝐢𝐝𝐞 𝐫𝐞𝐩𝐨𝐬𝐢𝐭𝐨𝐫𝐲 under the supervision of European Securities and Markets Authority (ESMA), which would harmonise the issuance of regulatory warnings and enhance their visibility across all Member States. These targeted policy measures would significantly bolster the EU’s capacity to combat online investment fraud and safeguard citizens’ financial well-being. Watch the full presentation on BETTER FINANCE's YouTube channel: https://lnkd.in/eGm5-Pex #ERW24 #InvestmentFraud #FinancialProtection #EUFinancialRegulation #FinancialLiteracy #DigitalSafety 

The International Investors' Conference | Europe at a Crossroads - Are We Still Competitive? has officially commenced!   Today, BETTER FINANCE, in partnership with DSW, convenes high-level financial experts, industry leaders, and policymakers in Wiesbaden, Germany to assess Europe’s capacity to maintain its competitive edge in an evolving global economic landscape.   Key themes under discussion: ✅ Strengthening Europe’s global competitiveness ✅ Accelerating innovation through digital transformation ✅ Advancing sustainable growth through the Capital Markets Union   #FinancialMarkets #CapitalMarketsUnion #DigitalTransformation #InvestorsForum #EUFinance #EconomicResilience #PolicyDialogue

At the 25th Anniversary Conference of the FECIF - The European Federation of Financial Advisers and Financial Intermediaries, Sébastien Commain, Research and Policy Officer at BETTER FINANCE, participated in the panel discussion on “Secure Retirement” alongside Tilman Lueder, Head of Insurance and Pensions at the European Commission. The panel, moderated by Simon Colboc of FECIF, explored the evolving challenges and opportunities surrounding retirement security across Europe.   In his remarks, Mr Commain emphasised the urgent need to address demographic trends affecting all EU Member States. He argued that the roles of public and private pensions should be redefined, with public pensions focusing on income redistribution, while supplementary occupational and personal pensions must deliver higher returns on savings to ensure adequacy for future retirees.   He also called for a paradigm shift in the narrative surrounding investments. He highlighted the importance of dispelling scaremongering rhetoric that deters investors from equity markets and pushes them towards underperforming, short-term guaranteed products.   Furthermore, Mr Commain stressed the pivotal role of financial advisers in fostering long-term investment strategies. High-quality advice, he noted, should empower investors with a clear understanding of the principles of long-term capital accumulation, including the cumulative effects of costs and inflation on their savings. #Pensions #RetirementSavings #OccupationalPensions © Photo credits: FECIF - The European Federation of Financial Advisers and Financial Intermediaries,

In a powerful address at the European Parliament ECON hearing, "𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐟𝐨𝐫 𝐖𝐨𝐦𝐞𝐧, 𝐛𝐲 𝐖𝐨𝐦𝐞𝐧," Aleksandra Mączyńska, Managing Director of BETTER FINANCE, highlighted the critical need for financial systems that empower women as investors, leaders, and decision-makers.   Her speech stressed the importance of tackling the systemic barriers that hold women back in finance and the economy, issuing a call to action for policymakers and institutions alike.   During her speech, Mączyńska showcased BETTER FINANCE’s pioneering 𝐈𝐧𝐯𝐞𝐬𝐭 𝐟𝐨𝐫 𝐁𝐞𝐭𝐭𝐞𝐫 𝐂𝐥𝐢𝐦𝐚𝐭𝐞 𝐄𝐔 campaign, an initiative that has brought financial education to women in Poland, Germany, Spain, and France. This campaign combines independent, impartial financial literacy with a focus on sustainability, helping women align their investments with climate-positive goals.   She also put forward BETTER FINANCE’s efforts in localising and translating the book Activate Your Money for four European markets: France, Germany, Poland, and Spain. Written with women in mind, the book demystifies complex financial terminology, outlines effective investment strategies, and provides the knowledge required to make informed decisions about ethical investments.   Another cornerstone of her address was the urgent need to tackle the 𝐩𝐞𝐧𝐬𝐢𝐨𝐧 𝐠𝐞𝐧𝐝𝐞𝐫 𝐠𝐚𝐩, which averages 30% across the EU. Mączyńska highlighted that this disparity stems from income inequality, further exacerbated by systemic issues such as the lack of pension contributions during maternity breaks. She called for innovative solutions, including the promotion of the 𝐏𝐚𝐧-𝐄𝐮𝐫𝐨𝐩𝐞𝐚𝐧 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐏𝐞𝐧𝐬𝐢𝐨𝐧 (𝐏𝐄𝐏𝐏) and tailored pension schemes to accommodate women’s unique life journeys, particularly career breaks and part-time work.   Mączyńska concluded her speech with a compelling reminder: achieving gender equality in finance is as much an economic necessity as it is a moral imperative. Bridging these gaps could unlock trillions of euros for the EU economy, creating a financial system that serves everyone equitably while fostering sustainability. #ECONCommittee #EuropeanParliament #FinancialServices #GenderEquality #SustainableFinance #InvestForBetterClimate

Thanks to FECIF - The European Federation of Financial Advisers and Financial Intermediaries for inviting me to this discussion.

🌍 Last chance to register: DSW/BETTER FINANCE International Investors' Conference 2024! 🌍 Join us on December 10, 2024, at the historic Kurhaus in Wiesbaden for this year’s International Investors’ Conference “Europe at a crossroads – are we still competitive?” We look forward to an opening speech of Natasha Cazenave (European Securities and Markets Authority (ESMA), whose regulatory perspective will shed light on Europe’s financial stability and growth challenges. Alexandra Jour-Schröder (EU Commission) will give us first-hand insights into what is on the table of DG Fisma over the next five years. Burkhard Lohr, CEO of K+S Group, and Stefan Wolff, journalist and moderator of Börse im Ersten, will discuss how to turn the current challenges for European companies into opportunities. The subsequent panels will deal with topics such as: 📢 Resilience redefined: How to build resilience and strategy in Europe’s complex landscape 📢Investor insights: How investor engagement may differ and on which topics investors will have a closer look at AGMs 2025 📢 Shaping the future: How the EU agenda 2024-2029 may shape our investment landscape 📢 Tge digital edge: What role digital transformation can play in securing Europe’s future competitiveness I look forward to engaging discussions with Christina Bannier, Christine Wolff, Rainier van Roessel, Johannes Hanshen, Stefan Maassen, Rüdiger Veil, Guillaume Prache, Rainer Riess, Rients Abma, Ola Peter Krohn Gjessing, Katryna Krueger, Klaus von der Linden, Ulrike Sapiro, Christof Schwab, Matthias Nau, Anne d'Arcy, Tom Oelsner, Alexandra Steiger. Spaces are limited - secure your spot now: https://lnkd.in/eV5r3xZT! #DSW #BetterFinance #Competitiveness #FutureofEurope #CMU #SIU #Innovation #Investment