Press Release: Retail investment products: Commission publishes feedback statement on call for evidence

The European Commission published a feedback statement summarising the 80 responses received to its call for evidence on 'substitute' retail investment products. The call for evidence invited views on whether differences in EU rules on the transparency and distribution of retail investment products – including investment funds, unit-linked life insurance products and structured securities – give rise to material differences in the level of regulatory protection for retail investors. It also invited opinions on whether action was needed at EU level to respond to any identified weaknesses. The feedback statement summarised the wide range of views expressed. The Commission will continue to gather opinion and evidence on these issues. The next major milestone will take the form of an open hearing to be held in Brussels on 15 July 2008. The Commission will publish a Communication in autumn 2008 in which it takes an opinion on whether there is a need for further work in this area.