6 Amendments of Mitro REPO related to 2012/0169(COD)
Amendment 31 #
Proposal for a regulation
Recital 10
Recital 10
(10) To meet the needs of retail investors, it is necessary to ensure that information on investment products is accurate, fair, clear and not misleading for those investors. This Regulation should therefore lay down common standards for the drafting of the key information document, in order to ensure that it is comprehensible for retail investors. Given the difficulties many retail investors have in understanding specialist financial terminology, particular attention should be paid to the vocabulary and style of writing used in the document. Rules should also be laid down on the language in which it should be drawn up. Furthermore, retail investors should be able to understand the key information document on its own without referring to other information. The importance of the key information document should also be stressed to retail investors, so that regulation has an effect.
Amendment 33 #
Proposal for a regulation
Recital 12
Recital 12
(12) The key information document should be drawn up in a format which allows retail investors, before taking an investment decision, genuinely to compare different investment products, since consumer behaviours and capabilities are such that the format, presentation and content of information must be carefully calibrated to maximise understanding and use of information. The same order of items and headings for these items should be followed for each document. In addition, the details of the information to be included in the key information document for different products and the presentation of this information should be further harmonised through delegated acts that take into account existing and on-going research on consumer behaviour, including results from testing the effectiveness of different ways of presenting information with consumers. In addition, some investment products give the retail investor a choice between multiple underlying investments. Those products should be taken into account when drawing up the format.
Amendment 39 #
Proposal for a regulation
Recital 21
Recital 21
(21) To ensure the trust of retail investors in investment products, requirements should be established for appropriate internal procedures which ensure that retail investors receive a substantive response from the investment product manufacturer to complaints, which should be given within a reasonable period of time and in writing. Replies should be forwarded to retail investors in the same language in which the complaint was written.
Amendment 50 #
Proposal for a regulation
Article 6 – paragraph 1
Article 6 – paragraph 1
1. The key information document shall be accurate, fair, clear and not misleading. The document should make it possible to compare products before taking an investment decision
Amendment 76 #
Proposal for a regulation
Article 8 – paragraph 2 – point f
Article 8 – paragraph 2 – point f
(f) under a section titled "What are the costs?", the costs associated with an investment in the investment product, comprising both direct and indirect costs to be borne by the investor, including summary indicators of these costs and taxes and any fees to be paid by the retail investor;
Amendment 83 #
Proposal for a regulation
Article 8 – paragraph 2 – point h
Article 8 – paragraph 2 – point h
(h) for pension products, under a section titled "What might I get when I retire?", projections of possible future outcomes. With regard to pension products, retail investors should in addition be informed unambiguously, clearly and comprehensibly about any limits to the withdrawal of funds.