Consumer Protection

Consumer Protection
Venue: Ministry of Finance,
Wilhelmstraße 97, 10117 Berlin, Germany
28 August 2014
Programme
Description
The objective of the ESE-Initiative is to promote the development of the common EU supervisory culture
through providing a forum for learning, discussion and exchange of information about supervisory practices.
The objective of this seminar is to improve the competence of participants professionally involved in
Consumer Protection issues. This seminar offers background information to PRIIPS and POG Principles. It
provides recommendations how to handle complaints in insurance supervision. Supervisory experts will
present the examination of prospectuses and consumer information. They also show the “Employee and
Complaints Register” as an example of Investor Protection. Further, valuable insights of dealing with the
Unregulated Capital Market in Germany will be provided by experts from BaFin. Finally, there will be
room for discussing lessons learned and possible improvements of existing regulation. The workinglanguage is English.
The following topics will be covered and the relevant skills will be identified and practiced:

Legal background

Information from European supervisors

Tools for effective supervision
The seminar is being organised by BaFin and the European Supervisor Education Initiative (ESE). It is
kindly hosted by the German Federal Ministry of Finance in Berlin.
Target audience
The course is designed for newcomers and other interested supervisors from the relevant supervisory
sectors, who are currently involved (or will be involved in the future) in Consumer Protection issues.
The seminar is open to supervisors from EEA and non-EEA countries.
Learning outcomes
Participants of this seminar will gain an overview of the legal background, their regulatory treatment and
the application of supervisory tools in practice.
Pre-requisites
Good command of English.
Background
Financial or legal background of the participants as well as some basic knowledge of the legal
background or practical experience in Consumer Protection issues might be useful.
Duration
The duration of the seminar is 1 day.
Fee
EUR 120,-The fee covers the costs for the training sessions including printouts of the presentations as well as
lunch, refreshments during the day and finger food at the end of the seminar.
Programme
28 August 2014
From 09.15 to 18.30
09.15-09.30
Registration
09.30-09.45
Welcome and Opening Remarks
ESE Representative: Gudrun Hoyer (BaFin)
09.45-10.30
PRIIPS: Packaged Retail and Insurance based Investment Products
Speaker: Tim Shakesby, EIOPA
10.30-11.00
European Product Oversight & Governance Regulation (POG-Principles)
Speaker: Matthias Köhl (BaFin)
11.00-11.30
Coffee break
11.30-12.15
Investor Protection and Investment Advice with focus on the German
“Employee and Complaints Register”
Speaker: Lars Frölich (BaFin)
12.15-13.15
Lunch
13.15-14.30
Panel Discussion
Questions for discussion: What are the challenges and the remedies for the
protection of the retail consumer in unregulated markets? Would retail
consumers benefit from a prospectus requirement covering products from the
unregulated markets? What effects do employee and complaint registers have on
market behaviour? Can consumer protection be improved by complaints data
stemming from long-existing insurance contracts? Can the PRIIPs KID achieve
its aim: providing the average retail consumer with plain product information to
enable him an informed choice across an EU-wide cross-sectoral range of
PRIIPs products? Can the PRIIPs KID help retail consumers understand and
evaluate complex products? Does standardization of product information help to
improve the financial knowledge of the average retail consumer? How big is the
risk that product information in practice turn primarily into a tool to minimize
product liability for product manufacturer? Is POG (product oversight and
governance) the solution to the question: how to monitor products without
introducing prudential product control?
Moderator: Ursula Gerold (BaFin)
Panelists: all speakers
14.30-15.30
Handling of Complaints in Insurance Supervision
Speakers: Jörg Heidmann, Sabine Stübs (BaFin)
15.30-16.00
Coffee break
16.00-16:45
The Unregulated Capital Market in Germany
Speaker: Dr. Jürgen Rieg (BaFin)
16:45-17.30
Capital Investments: Examination of Prospectuses and Consumer
Information
Speaker: Dr. Jean Pierre Bußalb (BaFin)
17.30-17.45
Closing Remarks
ESE Representative: Gudrun Hoyer (BaFin)
17.45-18.30
Get together – Finger food

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