Kamall: Retail investors will benefit from stronger protections

25-Feb-2014 @ 19:0

Syed Kamall Syed Kamall

Anthea McIntyre Anthea McIntyre

Anthea McIntyre Anthea McIntyre

Kamall: Retail investors will benefit from stronger protections

The leader of Britain's Conservative MEPs Syed Kamall today said an agreement on negotiations relating to the so-called UCITS 5 regulation on retail investment products would benefit investors.

The deal agreed will introduce tougher standards for asset managers to ensure investors' money is protected.

The financial crisis highlighted issues around pay for asset managers, the absence of tough sanctioning powers for regulators and weak rules for the bodies tasked with looking after investor funds.

Each of these issues has now been addressed inn then package after well over a year of discussions in Brussels.

Dr Kamall, who is also his party's spokesman on economic and monetary affairs, said: "The final agreement is a good compromise that will go a long way to enhancing protections for retail investors.

"The Madoff scandal showed that it was not just banks which misplaced and misused client money, but asset managers as well."

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