Activities of Paloma LÓPEZ BERMEJO related to 2016/2056(INI)
Plenary speeches (2)
Green Paper on Retail Financial Services (A8-0294/2016 - Olle Ludvigsson) ES
Green Paper on Retail Financial Services (debate) ES
Amendments (11)
Amendment 50 #
Motion for a resolution
Paragraph 2
Paragraph 2
Amendment 110 #
Motion for a resolution
Paragraph 7
Paragraph 7
7. Recalls the recent developments in the legislative framework for the banking sector, in particular the Bank Recovery and Resolution Directive and the Deposit Guarantee Schemes Directive; insists onthat the need to inform consumers fully about the impact of the new rules is not a substitute for effective product regulation, as the retail financial services market is characterised by extremely asymmetrical information;
Amendment 133 #
Motion for a resolution
Paragraph 8 a (new)
Paragraph 8 a (new)
8a. Notes that consumers' financial and non-financial data collected from different sources are being increasingly used by financial service providers for various purposes, in particular in credit and insurance sectors; stresses that the use of personal data and big data by financial service providers should comply with the EU data protection legislation, be strictly limited to what is necessary to provide the service and bring benefits to consumers; in this perspective, the demutualisation of risk in insurance triggered by the big data should be under close scrutiny;
Amendment 142 #
Motion for a resolution
Paragraph 9
Paragraph 9
9. Notes that frontline employees at financial institutions have a crucial role to play in opening up retail services to all strands of society and to consumers all over Europe; points out that such employees should, in principle, be given the training and time necessary to be able to serve their customers accurately, and should cannot be made subject to sales targets, incentives or inducements that could bias or distort their adviceservice; notes that cross- selling and mis-selling of financial products and services are mainly caused by sales-driven remuneration of sales staff and intermediaries; stresses, however, that frontline employees are not and cannot be made responsible for product design and dishonest business strategies, much less for regulatory failures;
Amendment 190 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Calls on the Commission to introduce simple and standardised product rules, default options in different product categories, and the obligation to perform a horizontal product suitability check that all financial providers and intermediaries should apply; Compliance with these rules should be confirmed by regulator before a financial product or service can be sold to the consumer;
Amendment 191 #
Motion for a resolution
Paragraph 12 b (new)
Paragraph 12 b (new)
12b. Calls on the Commission to address the issue of mis-selling of financial products and services; introduce a full ban on cross-selling, (except specific cases defined by European regulations) commissions and inducements for sales of investment products;
Amendment 194 #
Motion for a resolution
Paragraph 13
Paragraph 13
Amendment 218 #
Motion for a resolution
Paragraph 16
Paragraph 16
16. Asks the Commission to investigate further the confusing and sometimes misleading practices with which consumers are faced when making card payments and ATM withdrawals involving currency conversion, and to present a coherent solution that would make it possible, including in practice, for the consumer to understand and control the situation fully;
Amendment 249 #
Motion for a resolution
Subheading 2
Subheading 2
Amendment 252 #
Motion for a resolution
Paragraph 19
Paragraph 19
Amendment 264 #
Motion for a resolution
Paragraph 20
Paragraph 20