• Ex-post evaluations/fitness checks of existing legislation
The annex to the accompanying impact assessment contains an evaluation of the legislative framework specifically relating to retail investor protection. The principal conclusions are that the frameworks applicable to retail investors are broadly effective and coherent, continue to address needs and problems, and bring the intended added value. However, the evaluation also concluded that the intended objectives were not sufficiently achieved in areas such as disclosure of information, inducements and advice, product governance requirements and suitability assessments.
Despite existing rules governing disclosures, information can still be complex (in particular relating to costs), or not sufficiently useful or relevant to guide retail investors so that they make informed decisions. The investor protection rules governing disclosures and marketing communications are also not sufficiently adapted to the newly emerging and const
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