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transparency of results of consultation September 14, 2009

Posted by Bradley in : consultation , trackback

The EU Commission today published results of consultations on out of court resolution of disputes about financial services and basic bank accounts. The Commission has produced summary documents reflecting the results of the consultation. These documents show that the Commission received 97 responses to the basic bank accounts consultation and 68 responses to the ADR consultation. The basic bank accounts summary document reveals a range of views about the issues among respondents. For example, the document suggests that industry and public authorities have much more faith than consumers and users of financial services and civil society organisations in the effectiveness of voluntary codes of conduct. Not a very surprising result. And although there’s a lot of academic support for self-regulation, the academic organisations and think tanks which responded to this consultation did not tend to think that voluntary codes were effective either.

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