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The Chairpersons of the three European Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA – sent a joint letter on cross-selling of financial products to Jonathan Hill, the European Commissioner for Financial Stability, Financial Services and Capital Markets Union.

The European Banking Authority (EBA) launched today a consultation on its draft guidelines on remuneration policies and practices related to the sale and provision of retail banking products and services. The EBA has identified poor remuneration policies and practices as a key driver of miss-selling of financial products and services. The Guidelines are aimed at protecting consumers and reducing conduct costs of firms. The consultation runs until 22 March 2016.

The European Banking Authority (EBA) launched today a consultation on its draft technical standards on the framework for cooperation and exchange of information between competent authorities for passporting under Article 28(5) of the revised Payment Services Directive (PSD2). The technical standards will ensure that information about those payment institutions that carry out business in one or more EU Member States is exchanged consistently between the national authorities of the home and host Member States. The consultation runs until 11 March 2016.

The European Banking Authority (EBA) published today a Discussion Paper on strong customer authentication and secure communication. The revised Payment Services Directive (PSD2) will mandate the EBA to deliver Regulatory Technical Standards on this topic, which the EBA is required to deliver by January 2017. Prior to starting the development of these requirements, the EBA is issuing a Discussion Paper, with a view to obtaining early input into the development process. Responses can be submitted until 8 February 2016.

The Joint Committee of the three European Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA – has launched a Discussion Paper on automation in financial advice, aimed at assessing what, if any, action is required to harness the potential benefits of this innovation and mitigate its risks.

The Joint Committee of the European Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA – has launched its Joint Consultation Paper on PRIIPs Key Information Documents to gather stakeholder views on proposed rules on the content and presentation of the Key Information Documents (KID).