“Savings represent the hope that investors place in the future so that it can be better than in the past. And our task is to protect and trust savers: they will have to know what happens to their efforts placed on a 'card'”. This is the message of the president of Consob Giuseppe Vegas, who presented today, together with the representatives of the consumer associations, the Investor Charter.
“I fear – commented Vegas – that the economic crisis is not over yet. Even if there are signs of improvement, there will still be effects on the real economy. Therefore, in times like this, a greater intensification of supervision and control is necessary: we must ensure that the market is as transparent as possible”.
Therefore, the Investor Charter has the objective of providing savers and consumers with tools for learning the concepts necessary for the correct management of savings and for a more transparent dialogue with financial intermediaries. The project is based on three pillars: a campaign to raise awareness of savers on their rights and on the forms of protection provided for by law; the introduction, also in matters falling under Consob's remit, of an out-of-court dispute resolution body with the mandatory (and no longer voluntary) participation of intermediaries; an improvement in the management of complaints and reports submitted to Consob.
To this end, a financial education portal aimed at all investors will become operational in the coming months. A special platform will also be set up where consumer associations will be able to bring together all the complaints received in a single format, thus improving and speeding up the communication process with Consob.
“At European level – added Vegas – we are working to disseminate simple financial products that are equipped with a green dot, a symbol of reliability and security. This could be a big step forward."
