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Retail investment strategy: key pending questions and possible way forward

Day 2 Afternoon

Thursday 22 February

Room :



John Berrigan
Director General - DG for Financial Stability, Financial Services and Capital Markets Union, European Commission
Public Authorities
Guillaume Bérard
Financial Services Attaché and Advisor, Policy - FSMA - Permanent Representation of Belgium to the EU
Mare-Anne Barbat-Layani
Chair - Autorité des Marchés Financiers (AMF)
Stéphanie Yon-Courtin
MEP & ECON Renew coordinator - Committee on Economic and Monetary Affairs, European Parliament 
Industry Representatives
Alban Aucoin
Head of Public Affairs - Crédit Agricole S.A.
Gino Del Sesto
Head of Government Relations, Europe - MetLife
Christian Staub
Managing Director Europe - Fidelity International 
Other stakeholder & expert
Aleksandra Maczynska
Executive Director - Better Finance


This session will take stock of the progress made in the approaches of the co-legislators on the RIS proposals and discuss issues that remain to be further clarified and addressed with regard to the key measures proposed in the RIS and for the successful implementation of the RIS proposals.

Points of discussion

  1. Proposals on inducements and value-for-money: What should be the short and longer term approach to inducements, what should the review clause entail and does the best interest test proposed need adjusting? Can a balanced and effective approach be found on value-for-money (VFM) taking into account the different components of VFM? What approach should be taken for implementing VFM requirements and what are the possible alternatives to the benchmark approach originally proposed?
  2. Proposals on finfluencers, disclosures, supervision and financial literacy: Are these proposals moving in the right direction? What are the expected impacts of these measures in terms of further engagement of retail investors in the capital markets and what are the main conditions of success? Could more be done potentially at EU level (e.g. in terms of financial literacy) considering the respective prerogatives of the EU and Member States?