NFU is currently working with, or planning on replying to, the following consultations:

• Joint committee discussion paper on automation in financial advice
  The three European Supervisory Authorities have together released a discussion paper on automation of financial advice. The fast and increasing digitalization in the financial market has resulted in a numerous growth in financial institutions offering automated tools when providing advice or recommendations to consumers. This could change the way of selling and buying financial products. The discussion paper highlights potential benefits and risks associated with this particular innovation. The deadline for the consultation is March 4, 2016.
• Retail financial services
  The Green Paper focuses on financial services for ordinary consumer and aims to integrate this market across Europe. The consultation hopes to give information about how to improve choice, transparency and competition in retail financial services to the benefit of European consumers. The deadline for the consultation is March 18, 2016.
• EBA consultation on remuneration of sales staff
  EBA’s aim with the draft guidelines is to provide a framework for financial institutions to implement remuneration policies and practices that will improve links between incentives and the fair treatment of consumers and reduce the risk of miss-selling. The deadline for the consultation is March 22, 2016.
• European Ombudsman public consultation on the transparency of trialogues
  The European Ombudsman opened a strategic inquiry into the transparency of trialogues. The inquiry focuses on the transparency of trialogues, for example the extent to which documents tabled by the institutions during and after trialogues negotiations can and should be made proactively available, and at what point in time. The deadline for the consultation is March 31, 2016.