• TSU mutuo tasso fisso: 6,4750% - tasso variabile: 6,9250%
  • TSU leasing immobiliare tasso fisso: 8,4125% - tasso variabile: 7,7250%
  • TSU aperture di credito oltre 5.000: 14,3375%
  • TSU anticipi e sconti oltre 200.000: 7,6125%
  • TSU scoperti oltre 1.500: 22,6625%
  • Tasso legale dal 01/01/2020: 0,05%
  • Tasso BCE 0,00%

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Responso sulla Consultazione IOSCO sostenuta anche dal Centro studi Alma Iura

Alma Iura, per voce del presidente del suo Comitato Scientifico, Avv. Marco Rossi, ha aderito alla Consultazione, di cui sotto riportiamo il responso

30/01/2014


Response to the Consultation by the Board of the International Organization of Securities Commissions (IOSCO) 

 

"We are a group of academics, consumers associations, unions and other representatives of investors’ interests who want to express a common view about the issues regarding Retail Structured Products that have been raised in the consultation report. 

 

On December 4th 2010 and January 31th 2011 we sent two different letters to the European Commission and to ESMA in response to two public consultations on “the selection and presentation of performance scenarios in the Key Investor Information document (KIID) for structured UCITS” and on “the legislative steps for the Packaged Retail Investment Products initiative”, expressing in both contributions our shared position about the use of the scenario analysis/valuation matrix (also known as “what-if” analysis) approach to implement the performance scenarios in the KIID for structured UCITs and PRIPs.

 

In these letters we highlighted the inadequacy of the scenario analysis/valuation matrix as transparency tool (issue 5 for consultation), since it provides a partial representation of the potential returns of a structured product. We also pointed out that the natural use of the scenario analysis/valuation matrix is inside advertising pamphlets, while its unavoidable arbitrariness makes it unacceptable in a document (like the KIID for UCITs or the forthcoming KIID for PRIPs) aimed at providing “sufficient information for the average retail investor to make an informed investment decision”, as stated in the Consultative Document on PRIPs published by the European Commission on November 26th 2010."