Union programme to support specific activities enhancing the involvement of consumers and other financial services end-users in Union policy-making in the area of financial services (2017-2020)

The Committee on Economic and Monetary Affairs adopted the report by Philippe LAMBERTS (Greens/EFA, BE) on the proposal for a regulation of the European Parliament and of the Council on establishing a Union programme to support specific activities enhancing the involvement of consumers and other financial services end-users in Union policy making in the field of financial services for the period of 2017-2020.

The Committee on the Internal Market and Consumer Protection, exercising its prerogative as an associated committee in accordance with Article 54 of the Rules of Procedure, also gave its opinion on the report.

The committee recommended that the European Parliament’s position, adopted at first reading following the ordinary legislative procedure, should amend the Commission proposal as follows:

Subject matter and scope: the Programme shall be established for the period from 1 May 2017 to 31 December 2020 and shall co-finance the following activities, including research activities:

• engaging with consumers and other financial services end-users by liaising with existing consumer networks and helplines in the Member States and, in the area of financial services;
• raising awareness, dissemination, financial education and training, directly or through their national members, including to a wide audience of consumers and other financial services end-users in the area of financial services, including banking services, and non-experts;
• activities reinforcing the interactions between the members of the beneficiary organisations as well as advocacy and policy advice activities fostering the positions of those members at Union level and fostering the public and general interest in financial and EU regulation.

Beneficiaries: in order to cover the interests of consumers and other financial services end-users in as many Member States as possible, the beneficiaries shall seek to expand their network of active members within the Member States, and thus strive to ensuring comprehensive geographical coverage. The Commission shall facilitate further information and develop contacts on potential members.

Implementation of the Programme: the maximum rate of direct co-financing shall be 60% of eligible costs. The maximum rate of cumulative non-direct Union funding shall be limited to 70% of the total eligible costs of the beneficiary.

Evaluation procedure: no later than twelve months before the end of the Programme, the Commission shall submit to the European Parliament and the Council an evaluation report on the achievement of the Programme's objectives and shall make all information used for the evaluation available to them upon request.