Page 149 - 《期货和衍生品行业监管动态》（2022年合集）

期货和衍生品行业监管动态

Verena Ross, ESMA Chair, said:

“Increased retail participation in financial markets provides opportunities both

for savers and for companies seeking financing, and we are encouraged to see that

digital trends and new business models are contributing to making investing more

accessible to the general public.

These developments do not however come without risk. Gamification techniques

in trading apps and personal recommendations on social media may cause retail

investors to engage in trading behaviour without understanding the risks involved. We

are therefore setting out a number of proposals to ensure that these developments do

not compromise investor protection in the EU.”

The proposals put forward aim at maintaining a high level of investor protection,

while ensuring that retail investors can benefit from digitalisation opportunities. The

recommendations relate to, among others:

● requiring machine readability of disclosure documents to facilitate

the development of searchable databases available to the public;

● addressing information overload by proposing to define what is vital

information and by using digital techniques such as layering of information;

● development of a standard EU format of information on costs and

charges and aligning the disclosures under MiFID and the PRIIPs KID;

● possibility for NCAs and ESMA to impose on firms the use of risk

warnings for specific financial instruments;

● addressing aggressive marketing communications; and

● addressing issues related to misleading marketing campaigns on

social media and the use of online engagement practices, such as the use of
gamification techniques by firms or third parties.

In addition, ESMA also supports the Commission’s proposal to prohibit the

回 到 首 页 122 回 到 目 录