For the investor, too much tax kills the investment. And too much info ?

The authorities of control are on the back of the professionals to require a better information of the public in the area of investments. The intention is laudable but the method will be losers : the investors.

like the food, the savings is an market of temptations. The commercials, this is their reason to be, you appâtent. To the point of losing the sense of reality ? The level of current interest rates, very low, more than ever encourage investors to questioning, as one will seek to steer them into investment more attractive. In this context, the eye of a regulator is necessary, what is working the prudential supervision Authority and resolution (ACPR).

Let's make the investment king for the French, life insurance. Since 2010, the policeman of the sector has issued a handful of recommendations on its marketing and advertisements relating to them. With a laudable goal : to protect the investor. An example, in its last recommendation on the subject, in February of 2015, the ACPR requires that the advertisement would understand the nature of the product, its risks, the truth about its past performance with an annualisation of the yields, etc

what confuse investors

These safeguards are welcome on a market of the savings dense and complex. In 2015, the ACPR will have reviewed nearly 5,000 communications advertising, all investments combined. A work of ant which allows it to identify underlying trends, as last year, "the frequent use of new indices by most of the players" who had anything to confuse investors, that's for sure. Still, this review has its own limitations. One, this sleep does not cause a penalty. Two, it is only the tip of the iceberg.

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the bottom of The problem, it is the information given to the customer before, during and after the purchase of investments. Back to life insurance : who has already read the dozens of pages of terms and conditions of the contract that he signed ? And for this small minority, who understood the half ? This would have allowed everyone to decipher the true guarantee of funds in euros to be subscribed. Impossible for common mortals.

A key information document that will give cold sweats to intermediaries

On this ground, the shock of simplification costly to the Government will unfortunately not take place. You are about to add complexity to even the deal with of the required documents, built at the european level this time. In 2017 or 2018, it is being negotiated, a key information document (KID) must, in addition, be handed over to the investors. Which will include the maximum losses possible, guarantees from the capital, the periods of detention are recommended. What give cold sweats to financial intermediaries in direct contact with the client. All cry out that they are choking under paperwork, with a lot of obligations and responsibilities, incessant. We want to believe them. The wisdom would be, already, to take account of a warning from the advisory Committee of the financial sector, in an opinion published in march 2016 : "The stack of texts related to the information of the investors is potentially a generator of legal insecurity."

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For the investor, too much tax kills the investment. And too much info ? Believe that this information exponential has only one purpose : to oppose a "we told you so" in case of dispute. The protection of the investor may not go through dozens of pages of contractual absconces or simulations the assumptions are untestable. What it needs, it is clarity and practicality, simply. It is also the role of the financial press-independent as ours to contribute to.