On 24 April 2018, the European Commission published a study that has been produced for it which provides facts and figures on the current features and functioning of European markets for retail investment products.
The study identifies obstacles that consumers face in the EU when buying investment funds, investor-driven life insurance or private pension. By looking at the current impediments, the study illustrates the role of EU legislation, such as MiFID II, PRIIPs and the Insurance Distribution Directive. Specifically, the study finds that while consumers have access to a large and diverse range of products, they face challenges in collecting and comparing information across the board. It also notes that costs for similar products continue to be very different across Member States. The study also underlines that the potential for new distribution models based on FinTech is promising, but must be monitored carefully. As part of its FinTech Action Plan the Commission will examine the current landscape of digital interfaces that help individuals finds suitable and cost effective retail investment products across the EU’s capital markets.