Activities of Ashley FOX related to 2016/2056(INI)
Plenary speeches (1)
Green Paper on Retail Financial Services (debate)
Shadow reports (1)
REPORT on the Green Paper on Retail Financial Services PDF (329 KB) DOC (73 KB)
Amendments (13)
Amendment 61 #
Motion for a resolution
Paragraph 3
Paragraph 3
3. Underlines the importance of promoting positive developments in this market by creating and maintaining a level playing field competitive environment where the rules are as technology- and business-model-neutral as is feapossible; points out that such an approach is necessary, not least in order to give new andhelp innovative SMEs a fair chancend start-ups to grow;
Amendment 83 #
Motion for a resolution
Paragraph 5
Paragraph 5
5. Recalls that all initiatives based on the Green Paper should be compatible with stepping up thegnisant of the international fight against tax fraud and tax evasion;
Amendment 103 #
Motion for a resolution
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Notes the success of initiatives such as 'regulatory sandboxes' whereby regulators can work with innovative FinTech companies to provide a flexible framework for technologies to grow;
Amendment 117 #
Motion for a resolution
Paragraph 7 a (new)
Paragraph 7 a (new)
7a. Notes that the lack of an Insurance Guarantee Scheme in some Member States has the potential to undermine consumer confidence and calls on the Commission to consider legislation to mandate Insurance Guarantee Scheme Coverage.
Amendment 120 #
Motion for a resolution
Paragraph 8
Paragraph 8
8. Stresses, not least given that otherwise positive the opportunity that digitalisation processes could trigger exclusionary tendencies, that the financial inclusion perspective should always be kept in mind, and that measures should be taken to ensure that all consumers have access to at least the most essential financial servicevides for financial services businesses and consumers;
Amendment 143 #
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 Europeconsumers in the EU; 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 not be made subject to sales targets or inducements that could bias or distort their advice;
Amendment 177 #
Motion for a resolution
Paragraph 12
Paragraph 12
12. Emphasises that the enforcement of EU and national financial and consumer legislation needs to be strengthened; stresses that the European Supervisory Authorities should step up their activities on consumer issues and that the agencies responsible in a number of Member States should start to work more actively and competently in this fieldcarry out peer reviews to raise standards and consumer confidence;
Amendment 187 #
Motion for a resolution
Paragraph 12 a (new)
Paragraph 12 a (new)
12a. Stresses that further legislative action to improve the transparency and comparability of financial products at the EU level is not necessary at this stage; highlights that future regulation should be flexible enough to accommodate technological advances and backed by a rigorous impact assessment that factors in behavioural research;
Amendment 195 #
Motion for a resolution
Paragraph 13
Paragraph 13
13. Calls for the Commission to intensify its work against discrimination on grounds of residence in the European market on retail financial services and, if necessary, to complement the planned general proposals to end unjustified geo- blocking with further legislative initiatives targeted specifically at the financial sectorWelcomes that the Geo-blocking Regulation excluded financial services given their complexities; however, calls for the Commission to carry out a consultation with Member States and stakeholders to establish where refusal to provide financial services is justified and where it is not; stressing that firms should not be compelled to offer services where it is not commercially viable to do so;
Amendment 202 #
Motion for a resolution
Paragraph 14
Paragraph 14
Amendment 211 #
Motion for a resolution
Paragraph 15
Paragraph 15
15. Calls on the Commission, inter alia with reference to the PAD, to map the rules, practices and non-practices that apply to domestic and cross-border switching in allrelevant parts of the European retail financial services market, and to present a coherent and comprehensive strategy for making switching easier for the consumerenabling consumers to make an informed choice;
Amendment 233 #
Motion for a resolution
Paragraph 18
Paragraph 18
18. Calls on the Commission, in close cooperation with the Member States, to draw up a plan for establishingcontinue enhancing the Points of Single Contact, established under the services Directive and SOLVIT to form a coordinated network of national ‘'one-stop shops’ that would' which will assist retail financial firms wishing to make better use of cross- border business opportunities;
Amendment 265 #
Motion for a resolution
Paragraph 20
Paragraph 20
20. Encourages the Commission, while ensuring financial stability, to move forward in creating a stronger single market for mortgages and consumer credit, but to do so carefully, balancing privacy and data protection concerns with improved cross-border access to better- coordinated credit databases and making sure that credit-related incidents whereby consumers have been unreasonably exposed to currency exchange risks are not repeated to assess the changes made by the Mortgage Credit Directive before considering any further regulatory action;