RegulationJul 23 2015

Hill pledges greater protection as part of CMU

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Hill pledges greater protection as part of CMU

EU commissioner Lord (Jonathan) Hill has promised to introduce protections for retail investors as he works to introduce a Capital Markets Union.

In a speech in London last week, the commissioner for financial services said savers would benefit from the removal of cross-border barriers to investment.

He said: “Over the years, small retail investors have been reducing their investment in shares.

“They will only invest in capital markets if they have confidence in them. So I want effective consumer and investor protection, and to dismantle the single market barriers for retail investors.”

He added that the CMU was a chance to take the single market further, so businesses across Europe could get the investment they needed and give savers better returns.

The European Commission has indicated that it wanted to have the building blocks of the CMU in place by 2019.

Adviser view

Graeme Inglis, director of Fife-based Create and Prosper Financial Services, said: “The concept of people having greater choice is a good idea as long as it is marketed correctly, and there are checks and balances in place and consumers are protected.”