EIOPA has launched a special section of its website, called Consumer Lounge, which is aimed at providing useful information to consumers, and is fully dedicated to consumer protection in financial markets.
The Consumer Lounge helps consumers how to choose a financial product and take care of the risks involved. It explains the nature of financial products like Variable Annuities, Payment Protection Insurance and Defined Contribution (DC) Pension Schemes.
The section also shows consumers how to proceed in case of problems. It provides links to national and European consumer organisations, National Competent Authorities, Ombudsmen, and to financial education initiatives in different countries.
EIOPA’s overall objective in the field of consumer protection is to promote transparency, simplicity and fairness in the market for consumer financial products and services.
EIOPA’s Chair, Gabriel Bernardino, says: “Consumer protection is in our DNA. Consumers are the most vulnerable participants in financial markets. Therefore they need to be protected. Protection is also necessary to restore trust in the financial markets, and EIOPA is not only legally obliged but truly committed to play a leading role in consumer protection.
Press release
Consumer Lounge
© EIOPA
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