In May 2023, the EU Commission presented a proposal for a directive that would make far-reaching changes to the securities and insurance sectors. A core element concerns the reorganisation of inducements, which are common and widespread in financial sales. With this “retail investment strategy”, the EU Commission wants to strengthen confidence in capital markets and promote investments by retail investors in particular.

AK takes a critical view of the basic intention of the retail investor strategy. This must not result in any pressure, in order to ensure that savers do not purchase securities without reflection. The provisions on the partial ban on inducements in the insurance and securities sectors are welcomed. AK proposes that remuneration (commissions, fees) in financial sales should be fully and automatically disclosed. Interested consumers should be presented with different remuneration options for commission and fee models for insurance investment products.