EU auditors check on progress towards a single market for investment funds

Met dank overgenomen van Europese Rekenkamer, gepubliceerd op donderdag 25 februari 2021.

The European Court of Auditors (ECA) has launched an audit to assess the EU’s progress in creating a single market for investment funds. The auditors will examine whether the evolving set of rules is fit for purpose and whether the EU has promoted common supervisory practices among Member States and effectively mitigated risk to investors, markets and financial stability. In the audit preview published today, the auditors also point to potential sector vulnerabilities and risks to financial stability. For instance, in the context of the COVID-19 pandemic, in March 2020, large outflows across investment funds resulted in market turmoil.

“In times of very low interest rates, it is especially important to protect consumers seeking returns on their savings and to ensure financial stability” said Rimantas Šadžius, the ECA Member leading the audit.“Our audit will verify whether the EU has created an effective single market for all types of investment funds which serves both investors and businesses.”

Press Release: EU auditors check on progress towards a single market for investment funds