The European Commission has published a call for evidence on ‘substitute’ retail investment products. The main purpose of the call for evidence is to establish whether there is a real and significant risk to investor protection resulting from the different levels of product disclosure or intermediary regulation embodied in EU financial services legislation. The call for evidence does not call into question the differences in the rules governing the authorisation or prudential supervision of the institutions which originate the products. Also the call for evidence does not imply a preference in favour of, or negative judgement against, particular forms of investment product. The deadline for responses to the call for evidence is 18 January 2008. A feedback statement summarising the replies received will be published in March 2008.

View Financial services: call for evidence on substitute investment products, 26 October 2007