Actualités
Politico I Markets - 29.02.2024
YON-COURTIN’S RIS BALANCING ACT: MEPs working on updates to EU retail investment rules are keenly awaiting a new compromise proposal to see if they can clinch a political deal before the EU election.
Rapporteur Stéphanie Yon-Courtin’s last round of compromises, circulated last week, received a tepid reception from other political groups, according to multiple officials involved. The EPP and ECR indicated that they wouldn’t support a deal that included a partial ban on kickbacks for retail investment advice.
Lobbyists originally thrilled with Yon-Courtin’s hardline pro-industry stance were also unenthusiastic about last week’s compromise proposals.
During a shadows’ meeting in Strasbourg on Tuesday, the European Commission criticized her plans for harmonized EU levels of “inducements,” while most of the meeting’s time was taken up with speeches from EU financial supervisors. A planned technical meeting this morning was also canceled.
Yon-Courtin will send fresh compromises next week ahead of a final shadows’ meeting the following week. The French Renew lawmaker is insistent on making a deal before the end of the mandate and is eyeing a March 20th ECON vote — but the ball’s in her court for the next round of compromises.
EU countries will pick the file up again next week after months away, holding technical meetings on March 7 and 8.
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