On December 22, 2014, the Joint Committee of the European Supervisory Authorities (“ESAs”) (made up of the EBA, European Securities and Markets Authority (“ESMA”) and European Insurance and Occupational Pensions Authority) published a consultation paper on the draft guidelines developed to regulate the cross-selling of financial products across the EU. The guidelines are addressed to national competent authorities and include practical examples and principles establishing an efficient approach to supervise firms offering cross-selling services. The guidelines aim to enhance customer protection, as additional risks can arise when two or more financial products are bought together. The consultation closes on March 22, 2014.

The consultation is available at:

http://www.eba.europa.eu/documents/10180/936747/JC+CP+2014+05+%28Cons ultation+Paper+on+Cross+Selling%29.pdf