Sittings · Document
Draft report (2025/2209(INI)) 2025-12-16
Financial literacy and the rise of finfluencers in the context of the savings and investments union
Committee on Economic and Monetary Affairs
Amendment 1
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Citation 10 a (new)
| Motion for a resolution | Amendment |
| – having regard to Regulation (EU) 2022/2065 of the European Parliament and of the Council of 19 October 2022 on a Single Market for Digital Services and amending Directive 2000/31/EC (Digital Services Act)1a; | |
| _________________ | |
| 1a OJ L 277, 27.10.2022, p. 1, ELI: http://data.europa.eu/eli/reg/2022/2065/oj. |
Or. en
Amendment 2
Kinga Kollár, Lídia Pereira, Martine Kemp
Motion for a resolution
Citation 10 a (new)
| Motion for a resolution | Amendment |
| – having regard to the Warning ‘For people posting Investment Recommendation on social media’ issued by the European Securities and Markets Authority on 6 February 2024; |
Or. en
Amendment 3
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Citation 10 a (new)
| Motion for a resolution | Amendment |
| – having regard to the European Union/OECD Financial competence framework for children and youth in the European Union, published on 2 October 2023; |
Or. en
Amendment 4
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Citation 10 b (new)
| Motion for a resolution | Amendment |
| – having regard to the final reports of the Board of the International Organisation of Securities Commissions (IOSCO) on ‘The Finfluencers Final report’, ‘Final Report on Online Initiative Trading Practices - Copy Trading, Mirror Trading, Social Trading’ and ‘Final Report on Digital Engagement Practices (DEPs)’ published in May 2025; |
Or. en
Amendment 5
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Citation 10 c (new)
| Motion for a resolution | Amendment |
| – having regard to Bruegel policy brief on ‘The state of financial knowledge in the European Union’, published in February 2023; |
Or. en
Amendment 6
Gaetano Pedulla'
Motion for a resolution
Recital A
| Motion for a resolution | Amendment |
| A. whereas financial literacy is an essential life skill and fundamental instrument that allows citizens to better manage their personal and family budget, leading to informed decisions on savings, investments and the prevention of fraud and over-indebtedness; | A. whereas financial literacy is an essential life skill and fundamental instrument that allows citizens to better manage their personal and family budget, leading to informed decisions on savings, investments and the prevention of fraud and over-indebtedness, and must therefore include robust education on digital finance, cybersecurity hygiene, the identification of online financial scams, as well as a better understanding of financial crises, systemic risk and the dangers stemming from excessive financial deregulation; |
Or. en
Amendment 7
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Recital A
| Motion for a resolution | Amendment |
| A. whereas financial literacy is an essential life skill and fundamental instrument that allows citizens to better manage their personal and family budget, leading to informed decisions on savings, investments and the prevention of fraud and over-indebtedness; | A. whereas financial literacy is an important life skill and fundamental instrument that allows citizens to better manage their personal and family budget, leading to informed decisions on savings, investments and the prevention of fraud and over-indebtedness; whereas public institutions, in particular independent regulators, and civil society should play a fundamental role in this regard; |
Or. en
Amendment 8
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Adnan Dibrani, Jonás Fernández, César Luena, Evelyn Regner
Motion for a resolution
Recital A
| Motion for a resolution | Amendment |
| A. whereas financial literacy is an essential life skill and fundamental instrument that allows citizens to better manage their personal and family budget, leading to informed decisions on savings, investments and the prevention of fraud and over-indebtedness; | A. whereas financial literacy is an useful life skill and fundamental instrument that allows citizens to better manage their personal and family budget, leading to informed and well suited decisions on savings, plans for retirement and other goals, investments and the prevention of fraud, misinformation, and over-indebtedness; |
Or. en
Amendment 9
Markus Ferber
Motion for a resolution
Recital A
| Motion for a resolution | Amendment |
| A. whereas financial literacy is an essential life skill and fundamental instrument that allows citizens to better manage their personal and family budget, leading to informed decisions on savings, investments and the prevention of fraud and over-indebtedness; | A. whereas financial literacy is an essential life skill and fundamental instrument that allows citizens to better manage their personal and family budget and engage in productive investment and entrepreneurship, leading to informed decisions on savings, investments and the prevention of fraud and over-indebtedness; |
Or. en
Amendment 10
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Recital A
| Motion for a resolution | Amendment |
| A. whereas financial literacy is an essential life skill and fundamental instrument that allows citizens to better manage their personal and family budget, leading to informed decisions on savings, investments and the prevention of fraud and over-indebtedness; | A. whereas financial literacy is an essential life skill and fundamental instrument that allows citizens to better manage their personal and family budget and engage in economic activity, leading to informed decisions on savings, investments and the prevention of fraud and over-indebtedness; |
Or. en
Amendment 11
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Recital A a (new)
| Motion for a resolution | Amendment |
| A a. whereas the financialisation of the economy and the growing complexity of the financial sector and of financial products, make it necessary for all citizens to acquire basic financial knowledge; whereas reducing the excessive complexity of the financial system would improve its accessibility; |
Or. en
Amendment 12
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena
Motion for a resolution
Recital A a (new)
| Motion for a resolution | Amendment |
| A a. whereas financial literacy enables people to understand debt, financial markets, taxation and insurance as a risk-management tool, helping them manage financial risks, make informed decisions, and plan for retirement; |
Or. en
Amendment 13
Isabel Benjumea Benjumea
Motion for a resolution
Recital A a (new)
| Motion for a resolution | Amendment |
| Aa. whereas understanding how money works should not be something extraordinary, but rather something that is necessary for personal freedom and the prosperity of the EU; |
Or. es
Amendment 14
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Recital A a (new)
| Motion for a resolution | Amendment |
| A a. whereas evidence shows there is a link between higher financial literacy levels and greater financial inclusion; |
Or. en
Amendment 15
Isabel Benjumea Benjumea
Motion for a resolution
Recital A b (new)
| Motion for a resolution | Amendment |
| Ab. whereas a citizen with financial training can save better, invest more wisely and participate actively in the capital markets, thus promoting growth and innovation in our Member States; |
Or. es
Amendment 16
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Recital A b (new)
| Motion for a resolution | Amendment |
| A b. whereas better financial literacy can contribute to macroeconomic stability and foster inclusive growth; |
Or. en
Amendment 17
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Recital B
| Motion for a resolution | Amendment |
| B. whereas the Commission’s 2023 Flash Eurobarometer proves the urgent need to enhance financial literacy in Europe, as only 18 % of EU citizens display a high level of financial literacy; | B. whereas the Commission’s 2023 Flash Eurobarometer proves the urgent need to enhance financial literacy in Europe, as only 18 % of EU citizens display a high level of financial literacy with large differences between Member States: from 11% to more than 25% in only four countries; |
Or. en
Amendment 18
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Recital B
| Motion for a resolution | Amendment |
| B. whereas the Commission’s 2023 Flash Eurobarometer proves the urgent need to enhance financial literacy in Europe, as only 18 % of EU citizens display a high level of financial literacy; | B. whereas the Commission’s 2023 Flash Eurobarometer proves the need to enhance financial literacy in Europe, as only 18 % of EU citizens display a high level of financial literacy; |
Or. en
Amendment 19
Denis Nesci
Motion for a resolution
Recital B a (new)
| Motion for a resolution | Amendment |
| Ba. whereas almost 50 % of adults lack the emergency savings they need to cover three months’ worth of expenses, while 16 % have no emergency savings at all; whereas such factors, coupled with the substantial use of consumer credit in some regions, increase the risk of overindebtedness, make it harder for households to respond to unexpected events, may have an adverse impact on economic and social cohesion, and may limit savings from being channelled into productive investments in the real economy; |
Or. it
Amendment 20
Pierre Pimpie, Jorge Martín Frías, Enikő Győri, Tomáš Kubín, Auke Zijlstra
Motion for a resolution
Recital B a (new)
| Motion for a resolution | Amendment |
| B a. whereas the joint EU/OECD-INFE financial competence frameworks for adults, children and youth provide a useful, non-binding reference to identify key financial skills, while leaving full flexibility to Member States to adapt their national strategies and educational content to their own systems and priorities; |
Or. en
Amendment 21
Lídia Pereira, Martine Kemp
Motion for a resolution
Recital B a (new)
| Motion for a resolution | Amendment |
| B a. whereas recent European survey evidence confirms that, on average across the EU, barely one in two adults can answer at least three out of five basic financial-knowledge questions correctly, underscoring persistent gaps in understanding inflation, compound interest, risk-return and diversification; |
Or. en
Amendment 22
Thomas Bajada, Jonás Fernández
Motion for a resolution
Recital B a (new)
| Motion for a resolution | Amendment |
| B a. whereas, financial stability is a major concern affecting our citizens’ wellbeing, yet often overlooked in the EU’s economic assessments of both macroeconomic and individual welfare; |
Or. en
Amendment 23
Sirpa Pietikäinen
Motion for a resolution
Recital B a (new)
| Motion for a resolution | Amendment |
| B a. whereas there is a steep increase in financial and digital payment fraud in Europe1a, with estimated losses of over a hundred billion euros annually1b; | |
| _________________ | |
| 1a https://www.tietoevry.com/en/newsroom/all-news-and-releases/press-releases/2025/04/tietoevry-bankings-new-insight-report-reveals-an-increase-in-digital-payment-fraud-in-europe/ | |
| 1b https://verafin.com/wp-content/uploads/2025/06/regional-european-efcr-infographic-nasdaq-verafin-20250710.pdf |
Or. en
Amendment 24
Denis Nesci
Motion for a resolution
Recital C
| Motion for a resolution | Amendment |
| C. whereas the lack of financial literacy affects, in a disproportionate manner, women, young people and older citizens, as well as those with a lower income or lower professional qualifications; | C. whereas while the lack of financial literacy affects all sections of the population, it has a particularly significant impact on people who are more economically or socially vulnerable, as it limits their ability to make informed decisions and play a full part in economic life; |
Or. it
Amendment 25
Gaetano Pedulla'
Motion for a resolution
Recital C
| Motion for a resolution | Amendment |
| C. whereas the lack of financial literacy affects, in a disproportionate manner, women, young people and older citizens, as well as those with a lower income or lower professional qualifications; | C. whereas the lack of financial literacy affects, in a disproportionate manner, women, young people and older citizens, as well as those with a lower income or lower professional qualifications, reflecting and risking exacerbating existing socio-economic inequalities; |
Or. en
Amendment 26
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Recital C
| Motion for a resolution | Amendment |
| C. whereas the lack of financial literacy affects, in a disproportionate manner, women, young people and older citizens, as well as those with a lower income or lower professional qualifications; | C. whereas the lack of financial literacy affects, in a disproportionate manner, women, young people and older citizens, as well as those with a lower income or lower professional qualifications and the most vulnerable groups of society; |
Or. en
Amendment 27
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Recital C
| Motion for a resolution | Amendment |
| C. whereas the lack of financial literacy affects, in a disproportionate manner, women, young people and older citizens, as well as those with a lower income or lower professional qualifications; | C. whereas the lack of financial literacy affects, in a disproportionate manner, women, young people and older citizens, as well as those with a lower income or limited formal education; |
Or. en
Amendment 28
Isabel Benjumea Benjumea
Motion for a resolution
Recital C a (new)
| Motion for a resolution | Amendment |
| Ca. whereas there is a significant gap between Member States in terms of the financial competence of European citizens, as only four Member States have high levels of financial knowledge: the Netherlands, Denmark, Sweden and Slovenia; |
Or. es
Amendment 29
Thomas Bajada, Jonás Fernández
Motion for a resolution
Recital C a (new)
| Motion for a resolution | Amendment |
| C a. whereas significant disparities in financial literacy levels across Member States and European regions, constitute an additional layer of geographically based socioeconomic disparity within the EU; |
Or. en
Amendment 30
Pierre Pimpie, Jorge Martín Frías, Enikő Győri, Tomáš Kubín, Auke Zijlstra
Motion for a resolution
Recital C a (new)
| Motion for a resolution | Amendment |
| C a. whereas financial education policies fall primarily within the responsibility of the Member States and must respect national educational traditions, parental rights and the diversity of approaches to teaching economics and personal finance; |
Or. en
Amendment 31
Lídia Pereira, Martine Kemp
Motion for a resolution
Recital C a (new)
| Motion for a resolution | Amendment |
| C a. whereas retail investors participation in capital markets remains uneven across Member States and higher financial literacy correlates with enhanced financial resilience and investment uptake; |
Or. en
Amendment 32
Kinga Kollár, Lídia Pereira
Motion for a resolution
Recital C a (new)
| Motion for a resolution | Amendment |
| C a. whereas studies show that especially generation Z investors (i.e. people born between 1997-2012) predominantly use social media, internet searches and personal connections to learn about investing and financial issues; |
Or. en
Amendment 33
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Recital C a (new)
| Motion for a resolution | Amendment |
| C a. whereas better financial literacy contributes to social inclusion, helps to reduce inequality and supports and empowers vulnerable or marginalised groups; |
Or. en
Amendment 34
Isabel Benjumea Benjumea
Motion for a resolution
Recital C b (new)
| Motion for a resolution | Amendment |
| Cb. whereas increased financial education initiatives should be fostered within the EU to increase citizens’ understanding of the benefits of capital market participation and help individual investors make investment decisions; |
Or. es
Amendment 35
Lídia Pereira, Martine Kemp
Motion for a resolution
Recital C b (new)
| Motion for a resolution | Amendment |
| C b. whereas the digital transition expands access to savings and investment products, but also increases citizens’ exposure to complex offers, aggressive marketing strategies and online frauds, making digitalisation both a risk and an opportunity; |
Or. en
Amendment 36
Fernando Navarrete Rojas
Motion for a resolution
Recital C b (new)
| Motion for a resolution | Amendment |
| C b. whereas the 2023 Eurobarometer Survey shows that there are large differences in financial literacy between Member States, which are correlated with the level of the population’s investment into financial products; |
Or. en
Amendment 37
Fernando Navarrete Rojas
Motion for a resolution
Recital C c (new)
| Motion for a resolution | Amendment |
| C c. whereas, according to the 2023 Eurobarometer Survey, only 38% of the EU respondents are confident that the investment advice they receive from their bank, insurer or financial advisor is primarily in their best interest, while 45% do not trust it; there are large differences across Member States; |
Or. en
Amendment 38
Thomas Bajada, Jonás Fernández
Motion for a resolution
Recital C b (new)
| Motion for a resolution | Amendment |
| C b. whereas a successful EU policy on financial literacy can only be accomplished if accompanied by easily accessible financial instruments for all EU citizens; |
Or. en
Amendment 39
Lídia Pereira, Martine Kemp
Motion for a resolution
Recital C c (new)
| Motion for a resolution | Amendment |
| C c. whereas public–private cooperation platforms and pan-European initiatives such as European Money Week and the European Money Quiz have proven effective in mobilising schools, civil society and industry across Member States; |
Or. en
Amendment 40
Thomas Bajada, Jonás Fernández
Motion for a resolution
Recital C c (new)
| Motion for a resolution | Amendment |
| C c. whereas insufficient financial management knowhow amongst SMEs and micro-enterprises remains one of Europe’s most persistent weaknesses and a major barrier to growth and competitiveness; |
Or. en
Amendment 41
Fernando Navarrete Rojas
Motion for a resolution
Recital C d (new)
| Motion for a resolution | Amendment |
| C d. whereas the Global Retain Investor Outlook shows that financial knowledge is negatively related with financial fragility in both the short and long terms, showing that the individuals who are more financially knowledgeable are more likely to have adequate means for retirement such as pension funds; |
Or. en
Amendment 42
Lídia Pereira, Martine Kemp
Motion for a resolution
Recital C d (new)
| Motion for a resolution | Amendment |
| C d. whereas entrepreneurial and SME financial literacy is a critical but under-measured dimension of Europe’s resilience and competitiveness, calling for dedicated monitoring and tailored programmes; |
Or. en
Amendment 43
Fernando Navarrete Rojas
Motion for a resolution
Recital C d (new)
| Motion for a resolution | Amendment |
| C d. whereas social media has become a dominant source of information for new generations according to 2024 Global Retail Investor Outlook; |
Or. en
Amendment 44
Lídia Pereira, Martine Kemp
Motion for a resolution
Recital C e (new)
| Motion for a resolution | Amendment |
| C e. whereas the Commission’s 2030 Consumer Agenda places digital fairness, enforcement and cross-border access to retail financial services at the core of competitiveness, including the implementation of the EU Financial Literacy Strategy and the roll-out of savings and investment accounts; |
Or. en
Amendment 45
Lídia Pereira, Martine Kemp
Motion for a resolution
Recital C f (new)
| Motion for a resolution | Amendment |
| C f. whereas the 2030 Consumer Agenda proposes a Digital Fairness Act to tackle dark patterns, addictive design and problematic practices by influencers, with stronger protection for minors; whereas this Agenda announces an EU action plan on online fraud to boost prevention, improve enforcement and support victims, complementing DSA enforcement; |
Or. en
Amendment 46
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Recital D
| Motion for a resolution | Amendment |
| D. whereas, in this context, the role of ‘financial influencers’ (‘finfluencers’) creates new opportunities for outreach and inclusion, but can also pose risks, such as conflicts of interest, misleading advertising or fraudulent communication; | D. whereas, in this context, the role of ‘financial influencers’ (‘finfluencers’) creates new opportunities for outreach and inclusion, but also poses severe risks, such as conflicts of interest, surreptitious or fraudulent advertising and commercial communication; whereas the Digital Fairness Check 2024 exposes that just 20% of influencers systematically indicate the commercial nature of the content shared; |
Or. en
Amendment 47
Kinga Kollár, Lídia Pereira
Motion for a resolution
Recital D
| Motion for a resolution | Amendment |
| D. whereas, in this context, the role of ‘financial influencers’ (‘finfluencers’) creates new opportunities for outreach and inclusion, but can also pose risks, such as conflicts of interest, misleading advertising or fraudulent communication; | D. whereas, social media is growingly used to disseminate, share and discuss information about financial markets and investment strategies and products, in this context, the role of ‘financial influencers’ (‘finfluencers’) creates new opportunities for outreach and inclusion, but can also pose risks, such as conflicts of interest, misleading advertising or fraudulent communication; |
Or. en
Amendment 48
Gaetano Pedulla'
Motion for a resolution
Recital D
| Motion for a resolution | Amendment |
| D. whereas, in this context, the role of ‘financial influencers’ (‘finfluencers’) creates new opportunities for outreach and inclusion, but can also pose risks, such as conflicts of interest, misleading advertising or fraudulent communication; | D. whereas, in this context, the role of ‘financial influencers’ (‘finfluencers’) creates new opportunities for outreach and inclusion, but can also pose risks, such as conflicts of interest, misleading advertising or fraudulent communication, as well as a better understanding of financial crises, systemic risk and the dangers stemming from excessive financial deregulation; |
Or. en
Amendment 49
Isabel Benjumea Benjumea
Motion for a resolution
Recital D
| Motion for a resolution | Amendment |
| D. whereas, in this context, the role of ‘financial influencers’ (‘finfluencers’) creates new opportunities for outreach and inclusion, but can also pose risks, such as conflicts of interest, misleading advertising or fraudulent communication; | D. whereas, in this context, the role of ‘financial influencers’ (‘finfluencers’) creates new opportunities for outreach and inclusion, but can also pose risks, such as conflicts of interest, misleading advertising or fraudulent communication; whereas the reality is that many citizens end up listening to podcasts or influencers to educate themselves, which could be risky; |
Or. es
Amendment 50
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Recital D
| Motion for a resolution | Amendment |
| D. whereas, in this context, the role of ‘financial influencers’ (‘finfluencers’) creates new opportunities for outreach and inclusion, but can also pose risks, such as conflicts of interest, misleading advertising or fraudulent communication; | D. whereas, in this context, the dual role of ‘financial influencers’ (‘finfluencers’) creates new opportunities for outreach and inclusion, but can also pose risks, such as conflicts of interest, misleading advertising misinformation or fraudulent communication creating real risks of fraud, pump-and-dump schemes, and unsuitable investments; |
Or. en
Amendment 51
Adnan Dibrani, Eero Heinäluoma
Motion for a resolution
Recital D a (new)
| Motion for a resolution | Amendment |
| D a. whereas the rapid growth of online investment and financial fraud, fuelled by new technologies and AI, including through deepfake scams, creates significant risk to online users and erodes the trust in the financial system, and underscores that online platforms and search engines have a particular responsibility to identify and mitigate risks of online investment fraud; |
Or. en
Amendment 52
Gaetano Pedulla'
Motion for a resolution
Recital D a (new)
| Motion for a resolution | Amendment |
| D a. whereas the rapid digitalisation of finance has led to a surge in sophisticated online scams, phishing attacks, and fraudulent investment schemes, which disproportionately target and harm the most digitally and financially vulnerable citizens, leading to devastating personal losses; |
Or. en
Amendment 53
Stéphanie Yon-Courtin, Billy Kelleher, Vlad Vasile-Voiculescu, Anouk Van Brug, Gilles Boyer
Motion for a resolution
Recital D a (new)
| Motion for a resolution | Amendment |
| D a. whereas the Retail Investment Strategy currently under negotiation introduces rules to promote financial education and to regulate emerging online practices by financial influencers (‘finfluencers’), who often have limited knowledge of the financial products they promote; |
Or. en
Amendment 54
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Recital D a (new)
| Motion for a resolution | Amendment |
| D a. whereas there is concern about the growing number of widely reported influencers who promote “get-rich-quick” services thus exposing consumers to potential financial harms; |
Or. en
Amendment 55
Gaetano Pedulla'
Motion for a resolution
Recital D b (new)
| Motion for a resolution | Amendment |
| D b. whereas the collapse of highly speculative crypto-assets has in some cases been associated with severe psychological distress and even suicides among retail investors, with online communities such as Reddit users sharing suicide-prevention hotline numbers, calling for strengthened mental-health support and suicide-prevention measures in parallel with financial literacy and consumer-protection policies; |
Or. en
Amendment 56
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Recital D b (new)
| Motion for a resolution | Amendment |
| D b. whereas in certain cases finfluencers operate in a similar manner as the media service providers, when it comes to the provision of information on financial affairs to the audiences, without adhering to regulatory or self-regulatory instruments related to the transparency and qualitative standards of commercial communications or accuracy, trustworthiness or veracity of the provided content; |
Or. en
Amendment 57
Stéphanie Yon-Courtin, Billy Kelleher, Vlad Vasile-Voiculescu, Gilles Boyer
Motion for a resolution
Recital D b (new)
| Motion for a resolution | Amendment |
| D b. whereas an OECD study1a for the French supervisory authority finds that new retail investors in that market are frequently overconfident in their financial knowledge and that social media is the main source of information for 18–24-year-olds; | |
| _________________ | |
| 1a https://www.oecd.org/en/publications/new-retail-investors-in-france_2cd2565d-en.html |
Or. en
Amendment 58
Kinga Kollár
Motion for a resolution
Recital E
| Motion for a resolution | Amendment |
| E. whereas a trusted, inclusive and transparent digital environment for finfluencers is a key condition for safeguarding public trust in their work; | E. whereas a trusted, inclusive and transparent digital communication by finfluencers is a key condition for safeguarding public trust in their work; |
Or. en
Amendment 59
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Recital E a (new)
| Motion for a resolution | Amendment |
| E a. whereas professional qualifications and economic incentives of finfluencers may vary, and thus it may often be challenging for consumers to assess the trustworthiness of their content; whereas some finfluencers gain remuneration through brand partnerships or advertising agreements which may call into question the objectivity of the information provided to consumer; |
Or. en
Amendment 60
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Recital E a (new)
| Motion for a resolution | Amendment |
| E a. whereas financial literacy is an outcome-focussed concept measuring the financial awareness, knowledge, skills, attitudes and behaviours necessary to make sound financial decision and ultimately achieve financial well-being; while financial education is a process-focussed concept referring to the knowledge required to become financially literate; |
Or. en
Amendment 61
Isabel Benjumea Benjumea
Motion for a resolution
Recital E a (new)
| Motion for a resolution | Amendment |
| Ea. whereas the explosion of AI is an invitation to strengthen digital financial literacy, to ensure that consumers not only understand basic financial concepts, but also know how to protect themselves in an increasingly complex, fast and easily accessible digital environment; |
Or. es
Amendment 62
Regina Doherty
Motion for a resolution
Recital E a (new)
| Motion for a resolution | Amendment |
| E a. whereas short-form digital media is increasingly used as a primary source of financial information and may lack context or verification; |
Or. en
Amendment 63
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Recital E b (new)
| Motion for a resolution | Amendment |
| E b. whereas Donald Trump’s recent use of social media to promote specific stocks has triggered widespread allegations of possible market manipulation, illustrating how prominent public figures can act as de facto finfluencers and how easily misleading or fraudulent investment signals can be disseminated to millions of followers, exposing retail investors to significant risks and undermining market integrity; |
Or. en
Amendment 64
Isabel Benjumea Benjumea
Motion for a resolution
Recital E b (new)
| Motion for a resolution | Amendment |
| Eb. whereas education is a direct responsibility of the Member States; whereas this should not preclude encouraging coordination between Member States to adopt best practices; |
Or. es
Amendment 65
Regina Doherty
Motion for a resolution
Recital E b (new)
| Motion for a resolution | Amendment |
| E b. whereas the European Commission estimates that EUR 10 trillion is currently unused in bank accounts across Europe instead of being invested in the real economy through retail financial market participation; |
Or. en
Amendment 66
Regina Doherty
Motion for a resolution
Recital E c (new)
| Motion for a resolution | Amendment |
| E c. whereas boosting and incentivising retail market participation is vital for advancing the EU Savings and Investments Union, and for improving long term financial security and prosperity for all Europeans; |
Or. en
Amendment 67
Dirk Gotink
Motion for a resolution
Paragraph 1
| Motion for a resolution | Amendment |
| 1. Understands that promoting financial literacy across Europe is a key and horizontal priority for the EU and its Member States, as the current low level undermines European competitiveness, increases inequalities, harms intergenerational fairness and severely jeopardises households’ resilience and ability to fully benefit from capital markets; | 1. Understands that promoting financial literacy across Europe is a key and horizontal priority for the EU and its Member States, as the current low level undermines European competitiveness, increases inequalities, harms intergenerational fairness and severely jeopardises households’ resilience and ability to fully benefit from capital markets; emphasises that better financial literacy and understanding of the financial sector and financial institutions indirectly contributes to financial stability; stresses that improved financial literacy will enable citizens to make more informed decisions about their spending, savings, pensions, investments and financial planning for the future, thereby contributing to economic security; |
Or. en
Amendment 68
Angelika Winzig
Motion for a resolution
Paragraph 1
| Motion for a resolution | Amendment |
| 1. Understands that promoting financial literacy across Europe is a key and horizontal priority for the EU and its Member States, as the current low level undermines European competitiveness, increases inequalities, harms intergenerational fairness and severely jeopardises households’ resilience and ability to fully benefit from capital markets; | 1. Understands that promoting financial literacy across Europe is a key and horizontal priority for the EU and its Member States, as the current low level undermines European competitiveness, increases inequalities, harms intergenerational fairness and severely jeopardises households’ resilience and ability to fully benefit from capital markets; urges the Member States to update the Council Recommendation on key competences for lifelong learning, so as to designate financial literacy as an independent key competence; |
Or. en
Amendment 69
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 1
| Motion for a resolution | Amendment |
| 1. Understands that promoting financial literacy across Europe is a key and horizontal priority for the EU and its Member States, as the current low level undermines European competitiveness, increases inequalities, harms intergenerational fairness and severely jeopardises households’ resilience and ability to fully benefit from capital markets; | 1. Understands that promoting financial literacy and implementing programmes and initiatives across Europe is a key and horizontal priority for the EU and its Member States and a prerequisite for financial equality and equal opportunity of its citizens; highlights that the current low level increases wealth inequalities and hinders investment into the real economy and its productivity, harms intergenerational fairness, and severely jeopardises households’ resilience and ability to fully benefit from capital markets, resulting in negative effects for European competitiveness; |
Or. en
Amendment 70
Sirpa Pietikäinen
Motion for a resolution
Paragraph 1
| Motion for a resolution | Amendment |
| 1. Understands that promoting financial literacy across Europe is a key and horizontal priority for the EU and its Member States, as the current low level undermines European competitiveness, increases inequalities, harms intergenerational fairness and severely jeopardises households’ resilience and ability to fully benefit from capital markets; | 1. Understands that promoting financial literacy across Europe is a key and horizontal priority for the EU and its Member States, as the current low level undermines European competitiveness, increases inequalities and the risks to financial insolvency, harms intergenerational fairness and severely jeopardises households’ resilience while also slowing down retail investment and households’ ability to fully benefit from and participate in the capital markets; |
Or. en
Amendment 71
Arba Kokalari
Motion for a resolution
Paragraph 1
| Motion for a resolution | Amendment |
| 1. Understands that promoting financial literacy across Europe is a key and horizontal priority for the EU and its Member States, as the current low level undermines European competitiveness, increases inequalities, harms intergenerational fairness and severely jeopardises households’ resilience and ability to fully benefit from capital markets; | 1. Understands that promoting financial literacy across Europe is a key and horizontal priority for the EU and its Member States, as the current low level undermines European competitiveness, increases inequalities, harms intergenerational fairness and severely jeopardises households’ resilience and ability to fully benefit from capital markets, while also increasing vulnerability to scams and misleading advertising; |
Or. en
Amendment 72
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 1
| Motion for a resolution | Amendment |
| 1. Understands that promoting financial literacy across Europe is a key and horizontal priority for the EU and its Member States, as the current low level undermines European competitiveness, increases inequalities, harms intergenerational fairness and severely jeopardises households’ resilience and ability to fully benefit from capital markets; | 1. Understands that promoting financial literacy across Europe is a key and horizontal priority for the EU and its Member States, as the current low level increases inequalities, harms intergenerational fairness and severely jeopardises households’ resilience, well-being, independence and ability to fully benefit from capital markets; more broadly, low levels of financial literacy undermine European competitiveness; |
Or. en
Amendment 73
Markus Ferber
Motion for a resolution
Paragraph 1
| Motion for a resolution | Amendment |
| 1. Understands that promoting financial literacy across Europe is a key and horizontal priority for the EU and its Member States, as the current low level undermines European competitiveness, increases inequalities, harms intergenerational fairness and severely jeopardises households’ resilience and ability to fully benefit from capital markets; | 1. Understands that promoting financial literacy across Europe is a key, horizontal priority for the EU and Member States, as the current low level undermines European competitiveness, increases inequalities, harms intergenerational fairness, deprives businesses (especially SMEs) of a well-informed investor base, and severely jeopardises households’ resilience and ability to fully benefit from capital markets; |
Or. en
Amendment 74
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 1 a (new)
| Motion for a resolution | Amendment |
| 1 a. Recalls that 53% of EU citizens are not able to put aside savings each month1a, let aside invest; recalls that the net wealth of the bottom 10% of households is close to zero2a; Highlights that due to supply-side policies, wages in real terms have been stalled, exposing workers to the cost of living crisis; therefore recognises that most EU households are not able to save money on a regular basis; stresses that financial literacy will not address the root causes of this problem; | |
| _________________ | |
| 1a https://ec.europa.eu/eurostat/statistics-explained/SEPDF/cache/120624.pdf | |
| 2a https://www.insee.fr/fr/statistiques/5371263?sommaire%3D5371304&sa=D&source=docs&ust=1765369846947440&usg=AOvVaw0wU4KbAobu7yJkq1ejEq6B |
Or. en
Amendment 75
Fernando Navarrete Rojas
Motion for a resolution
Paragraph 1 a (new)
| Motion for a resolution | Amendment |
| 1 a. Considers that measures taken at Member State level, when enhancing the pan-European dimension well-coordinated with the Commission’s strategy, have proved most effective in promoting retail participation in capital markets, including through pension systems; considers that allowing retail investors to decide how and where to allocate their own savings ultimately fosters greater financial literacy and market participation; |
Or. en
Amendment 76
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 1 a (new)
| Motion for a resolution | Amendment |
| 1 a. Affirms that while improving financial literacy can support the Union’s growth and help boost private investment, it can in no way substitute for a dedicated investment strategy backed by public funding to steer the necessary investments to increase the Union's productivity, accelerate the green transition, strengthen EU security and industrial sovereignty and create quality jobs; |
Or. en
Amendment 77
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena
Motion for a resolution
Paragraph 1 a (new)
| Motion for a resolution | Amendment |
| 1 a. Calls on the relevant bodies to incorporate financial literacy into economic models to better understand the determinants of wealth inequality, and to explicitly include financial literacy as a macroeconomic indicator in national statistics in order to assess a nation’s current and future wellbeing; |
Or. en
Amendment 78
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 1 a (new)
| Motion for a resolution | Amendment |
| 1 a. Stresses that whilst financial education is the primary tool for directly addressing financial literacy, education must be complemented by the necessary regulatory protections and proactive measures from the financial services sector, including consumer protection and fraud prevention; |
Or. en
Amendment 79
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 1 b (new)
| Motion for a resolution | Amendment |
| 1 b. Recalls that 40 million Europeans were in arrears with their key financial commitments in 20201a; furthermore, underlines that, in light of financial vulnerability, priority must be given to educating citizens about the risks associated with indebtedness before promoting investment-related learning; | |
| _________________ | |
| 1a https://vidensfunktionen.dk/wp-content/uploads/2023/10/European-Commission-Study-of-consumer-over-indebtedness-and-its-implications-2023.pdf&sa=D&source=docs&ust=1765369846949089&usg=AOvVaw3c7Yrx5Ek8cybHd-d-zrI3 |
Or. en
Amendment 80
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 1 b (new)
| Motion for a resolution | Amendment |
| 1 b. Highlights the increasing digitalisation of the financial sector and the need for digital skills to be an essential part of or complement to financial education; notes, in this context, the need for financial education tools to be consistently updated to take account of digital advancements; |
Or. en
Amendment 81
Fernando Navarrete Rojas
Motion for a resolution
Paragraph 1 b (new)
| Motion for a resolution | Amendment |
| 1 b. Emphasises the need to improve levels of financial literacy of EU citizens and entrepreneurs; calls on the Commission to include entrepreneurship in the scope of the incoming financial literacy strategy and in a toolkit for Member States to enhance coordination in this aspect; |
Or. en
Amendment 82
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 1 b (new)
| Motion for a resolution | Amendment |
| 1 b. Welcomes the recently approved Pilot Project dedicated to financial literacy as part of the EU’s 2026 budget which can serve as a model for a future permanent budgetary line within the EU budget specifically dedicated to financial literacy; |
Or. en
Amendment 83
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 1 c (new)
| Motion for a resolution | Amendment |
| 1 c. Underlines that financial literacy cannot substitute for redistributive policies to address the steep and growing inequalities driven largely by the unequal distribution of capital income, which disproportionately benefits the wealthiest households; recalls that excessive financial speculation poses significant risks to the real economy, as illustrated by the 2007–2008 housing bubble and subsequent global financial crisis, and therefore highlights the importance of equipping EU citizens not only with financial skills but also with a critical understanding of the systemic dynamics and societal consequences of speculative financial markets; |
Or. en
Amendment 84
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 1 c (new)
| Motion for a resolution | Amendment |
| 1 c. Encourages Member States to implement educational initiatives appropriate to all stages of life to foster life-long learning; suggests that promotion of an engagement with financial literacy initiatives should be aligned with important milestones in life, such as completing secondary education, entering the property ladder, or nearing retirement, in order to maximise the impact of initiatives; |
Or. en
Amendment 85
Fernando Navarrete Rojas
Motion for a resolution
Paragraph 1 c (new)
| Motion for a resolution | Amendment |
| 1 c. Highlights that all strategies, at both Member State and EU level, should be implemented in close coordination between public authorities and the private sector; stresses that measures developed by national governments and the Commission should always take into account the crucial role of market participants; |
Or. en
Amendment 86
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 1 d (new)
| Motion for a resolution | Amendment |
| 1 d. Notes that the young people have access to, and are being offered, financial services at ever earlier age through pocket money applications, mobile phones, bank accounts, or even credit cards; |
Or. en
Amendment 87
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 1 e (new)
| Motion for a resolution | Amendment |
| 1 e. Underlines that women remain disproportionately affected by low levels of financial literacy, with 60% of Europeans scoring low on financial literacy being women1a, which significantly undermines their ability to make informed financial decisions and achieve financial independence; recalls that the EU gender pay gap remains at approximately 12%2a, meaning that women earn substantially less per hour than men for equal work, thereby limiting their capacity to save and invest; notes with deep concern that 7% of women report that their partner forbids them to work and/or exercises control over family finances and their personal expenses3a, reflecting persistent forms of economic violence that directly restrict autonomy; stresses, therefore, the urgent need to close the financial literacy gap and gender pay gap to empower women economically and ensure their full participation in society; calls on the EU and its Member States to guarantee that women have access to the tools, resources and opportunities required to thrive, particularly in sectors where they remain underrepresented; | |
| _________________ | |
| 1a https://europa.eu/eurobarometer/surveys/detail/2953 | |
| 2a https://commission.europa.eu/strategy-and-policy/policies/justice-and-fundamental-rights/gender-equality/equal-pay/gender-pay-gap-situation-eu_en | |
| 3a https://eige.europa.eu/newsroom/news/whats-gender-equality-got-do-financial-independence |
Or. en
Amendment 88
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 2
| Motion for a resolution | Amendment |
| 2. Encourages the Member States to integrate age-adequate financial literacy projects into school curricula, as a complement to digital education and in parallel with formal programmes, while promoting teacher support initiatives; | 2. Encourages the Member States to integrate age-adequate financial literacy projects into school curricula, as a complement to digital education and in parallel with formal programmes, while promoting teacher support initiatives; stresses that financial literacy projects must include information on the impact of investments decisions on the economy, and most notably on the financing of the transition to a green and socially just economy; underlines in this regard the importance of equipping citizens with an understanding of climate-related financial risks, such as the exposure to brown assets and the growing likelihood of stranded assets; |
Or. en
Amendment 89
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 2
| Motion for a resolution | Amendment |
| 2 Encourages the Member States to integrate age-adequate financial literacy projects into school curricula, as a complement to digital education and in parallel with formal programmes, while promoting teacher support initiatives; | 2 Encourages the Member States to incorporate age-appropriate financial literacy projects into school curricula at all stages of education starting from primary school, to complement digital education on detecting fraud, hidden advertising and bad online practices and in parallel with the specific formal programmes in vocational training and higher education associated with investment, risk, long-term saving and pensions, at the same time as promoting support initiatives for teaching staff with European programmes for continuing education and exchanging good practices between national authorities, statistics bodies, central banks and universities; |
Or. es
Amendment 90
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 2
| Motion for a resolution | Amendment |
| 2. Encourages the Member States to integrate age-adequate financial literacy projects into school curricula, as a complement to digital education and in parallel with formal programmes, while promoting teacher support initiatives; | 2. Encourages the Member States to integrate age-adequate financial literacy projects into school curricula, as a complement to digital and media education and within formal programmes, while promoting teacher training provided by public education institutions; encourages the creation of EU-supported teacher-training networks to promote consistent and high-quality methods for teaching financial literacy across the Union, building on best practices from Member States; |
Or. en
Amendment 91
Gaetano Pedulla'
Motion for a resolution
Paragraph 2
| Motion for a resolution | Amendment |
| 2. Encourages the Member States to integrate age-adequate financial literacy projects into school curricula, as a complement to digital education and in parallel with formal programmes, while promoting teacher support initiatives; | 2. Encourages the Member States to integrate age-adequate financial literacy projects into school curricula, as a complement to digital education and in parallel with formal programmes, while promoting teacher support initiatives , with a mandatory module on online financial security, including how to identify phishing attempts, create strong passwords, use two-factor authentication, and recognise the hallmarks of ‘get-rich-quick’ scams and other fraudulent schemes; |
Or. en
Amendment 92
Dirk Gotink
Motion for a resolution
Paragraph 2
| Motion for a resolution | Amendment |
| 2. Encourages the Member States to integrate age-adequate financial literacy projects into school curricula, as a complement to digital education and in parallel with formal programmes, while promoting teacher support initiatives; | 2. Encourages the Member States to integrate age-adequate financial literacy projects into school curricula, as a complement to digital education and in parallel with formal programmes, while promoting teacher support initiatives; notes that other financial literacy projects and initiatives should also be tailored to age, situation and need; |
Or. en
Amendment 93
Pierre Pimpie, Jorge Martín Frías, Enikő Győri, Tomáš Kubín, Auke Zijlstra
Motion for a resolution
Paragraph 2
| Motion for a resolution | Amendment |
| 2. Encourages the Member States to integrate age-adequate financial literacy projects into school curricula, as a complement to digital education and in parallel with formal programmes, while promoting teacher support initiatives; | 2. Encourages the Member States, in full respect of their exclusive competence over education and of their national curricula, to promote age-adequate financial literacy projects in schools, as a complement to digital education and in parallel with formal programmes, while supporting teachers through voluntary training and tools; |
Or. en
Amendment 94
Thomas Bajada
Motion for a resolution
Paragraph 2
| Motion for a resolution | Amendment |
| 2. Encourages the Member States to integrate age-adequate financial literacy projects into school curricula, as a complement to digital education and in parallel with formal programmes, while promoting teacher support initiatives; | 2. Encourages the Member States to integrate age-adequate financial literacy projects into school curricula as well as into extracurricular activities, as a complement to digital education and in parallel with formal programmes, while promoting teacher support initiatives; |
Or. en
Amendment 95
Fernando Navarrete Rojas
Motion for a resolution
Paragraph 2
| Motion for a resolution | Amendment |
| 2. Encourages the Member States to integrate age-adequate financial literacy projects into school curricula, as a complement to digital education and in parallel with formal programmes, while promoting teacher support initiatives; | 2. Encourages the Member States to integrate age-adequate financial literacy projects into school curricula, university and graduate programmes as a complement to digital education and in parallel with formal programmes, while promoting teacher support initiatives; |
Or. en
Amendment 96
Kinga Kollár
Motion for a resolution
Paragraph 2
| Motion for a resolution | Amendment |
| 2. Encourages the Member States to integrate age-adequate financial literacy projects into school curricula, as a complement to digital education and in parallel with formal programmes, while promoting teacher support initiatives; | 2. Encourages the Member States to integrate age-adequate financial literacy knowledge into school curricula possibly as a complement to digital education and in parallel with formal programmes, while promoting teacher support initiatives; |
Or. en
Amendment 97
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 2 a (new)
| Motion for a resolution | Amendment |
| 2 a. Stresses the importance of integrating comprehensive evidence-based information on crypto-assets into financial education initiatives; Noting that crypto-assets are purely speculative assets, highly volatile and exposed to fraud and market manipulation, while not contributing to the financing of the real economy; calls on the Commission, and Member States to ensure that citizens, and particularly young people, are fully informed of the significant risks associated with engaging in crypto-asset markets; |
Or. en
Amendment 98
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 2 a (new)
| Motion for a resolution | Amendment |
| 2a. Stresses that financial education at a young age promotes an awareness of value, the rationale behind spending decisions, the importance of auditing and planning, and attitudes that go beyond aptitudes such as recognising effort, reward and contribution to civic capital; |
Or. es
Amendment 99
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 2 a (new)
| Motion for a resolution | Amendment |
| 2 a. Calls on Member States to ensure that any measures that they promote in the field of financial education are independent of any financial service provider; |
Or. en
Amendment 100
Gaetano Pedulla'
Motion for a resolution
Paragraph 2 a (new)
| Motion for a resolution | Amendment |
| 2 a. Ensures that such programmes are developed by public educational bodies independent from commercial influence by the financial services industry; |
Or. en
Amendment 101
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 2 b (new)
| Motion for a resolution | Amendment |
| 2b. Proposes creating a European Framework of Advanced Financial Skills for adults, as an extension of the existing joint framework, with modules on personal financial planning, comparing products, risk and diversification and sustainable investment without greenwashing, using national learning platforms; |
Or. es
Amendment 102
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 2 c (new)
| Motion for a resolution | Amendment |
| 2c. Calls for an educational European quality label to be adopted for financial education materials produced by supervisors, central banks, universities or accredited private entities, with annual campaigns coordinated by the Commission and the Member States, focused on crucial milestones such as the first payslip, the first home rental, the birth of children or retirement; |
Or. es
Amendment 103
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 2 d (new)
| Motion for a resolution | Amendment |
| 2d. Points out that the digital revolution of Artificial Intelligence offers an opportunity to combine financial education with digital literacy, as financial education can be personalised using AI and various digital tools; |
Or. es
Amendment 104
Gaetano Pedulla'
Motion for a resolution
Paragraph 3
| Motion for a resolution | Amendment |
| 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions; | 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions; underlines, however, that such programmes cannot substitute for the responsibility of public authorities and employers to ensure adequate, public and collective pension schemes, and must not shift the entire risk and responsibility for retirement adequacy onto individuals; stresses that pension funds must manage workers’ lifelong savings prudently and must not allocate them to highly risky or speculative financial activities that could undermine retirement income security; |
Or. en
Amendment 105
Fernando Navarrete Rojas
Motion for a resolution
Paragraph 3
| Motion for a resolution | Amendment |
| 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions; | 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions; asks the Commission and the Member States to step up coordinated efforts to improve financial literacy levels across the EU, as this could significantly help to build a stronger retail investment culture; |
Or. en
Amendment 106
Arba Kokalari
Motion for a resolution
Paragraph 3
| Motion for a resolution | Amendment |
| 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions; | 3. Exhorts the Member States to promote, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions; highlights the role of civil society, especially retail investor organisations, and social partners in supporting and implementing these measures; |
Or. en
Amendment 107
Dirk Gotink
Motion for a resolution
Paragraph 3
| Motion for a resolution | Amendment |
| 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions; | 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions; stresses that clear pension tracking dashboard should support effective communication to citizens about their pensions and expected income; |
Or. en
Amendment 108
Regina Doherty
Motion for a resolution
Paragraph 3
| Motion for a resolution | Amendment |
| 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions; | 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions, medium-term investing, and personal budgeting; |
Or. en
Amendment 109
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 3
| Motion for a resolution | Amendment |
| 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions; | 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education, lifelong learning and well-being programmes to improve informed decision-making, including with regard to long term savings and supplementary retirement provision; |
Or. en
Amendment 110
Sirpa Pietikäinen
Motion for a resolution
Paragraph 3
| Motion for a resolution | Amendment |
| 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions; | 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions, especially those from micro-entrepreneurs and small farmers; |
Or. en
Amendment 111
Thomas Bajada, Carla Tavares
Motion for a resolution
Paragraph 3
| Motion for a resolution | Amendment |
| 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions; | 3. Exhorts the Member States to incentivise, through adequate policy measures in collaboration with the relevant social partners, workplace-based financial education and well-being programmes to improve informed decision-making, also with regard to pensions; |
Or. en
Amendment 112
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 3
| Motion for a resolution | Amendment |
| 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions; | 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and financial well-being programmes to improve informed decision-making, in particular with regard to pensions; |
Or. en
Amendment 113
Pierre Pimpie, Jorge Martín Frías, Enikő Győri, Tomáš Kubín, Auke Zijlstra
Motion for a resolution
Paragraph 3
| Motion for a resolution | Amendment |
| 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions; | 3. Exhorts the Member States to incentivise, through non-compulsory and proportionate policy measures, voluntary workplace-based financial education to improve informed decision-making, in particular with regard to pensions; |
Or. en
Amendment 114
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 3
| Motion for a resolution | Amendment |
| 3. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education and well-being programmes to improve informed decision-making, in particular with regard to pensions; | 3. (Does not affect the English version.) |
Or. es
Amendment 115
Fernando Navarrete Rojas
Motion for a resolution
Paragraph 3 – point a (new)
| Motion for a resolution | Amendment |
| (a) Points out that the impact of financial literacy initiatives is limited by the pace of innovation and the complexity of financial markets and products; encourages further efforts to standardise and simplify access to these products in order to enhance EU citizens’ understanding and improve product comparability; believes that reducing administrative burdens would translate into less complex requirements for retail investors; |
Or. en
Amendment 116
Lídia Pereira, Martine Kemp
Motion for a resolution
Paragraph 3 a (new)
| Motion for a resolution | Amendment |
| 3 a. Exhorts Member States to participate in OECD's Programme for International Student Assessment (PISA) financial literacy tests for youth and establish regular surveys for adults. |
Or. en
Amendment 117
Regina Doherty
Motion for a resolution
Paragraph 4
| Motion for a resolution | Amendment |
| 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines the situation of women, youth and citizens from rural areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; | 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines the situation of women, youth, the older population, and citizens from rural areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; highlights that a lack of basic information creates caution and uncertainty; stresses that improving access to information and tofinancial markets through reforming administrative and fiscal structures helps to democratise financial markets so that they can benefit the widest amount of people; |
Or. en
Amendment 118
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 4
| Motion for a resolution | Amendment |
| 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines the situation of women, youth and citizens from rural areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; | 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; notes these initiatives should build on national measures and reflect the varying levels of literacy in different contexts, helping to increase financial knowledge more widely and consistent; underlines the situation of women, youth and citizens from rural areas, and the need to count on social partners, trade unions, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; calls for dedicated and targeted programmes for the most vulnerable groups, including those outside formal education; |
Or. en
Amendment 119
Gaetano Pedulla'
Motion for a resolution
Paragraph 4
| Motion for a resolution | Amendment |
| 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines the situation of women, youth and citizens from rural areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; | 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines the situation of women, youth and citizens from rural areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks, including online financial fraud; calls for specific awareness-raising campaigns in community centres, libraries, and public service media focused on the most common online banking and investment scams; |
Or. en
Amendment 120
Angelika Winzig
Motion for a resolution
Paragraph 4
| Motion for a resolution | Amendment |
| 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines the situation of women, youth and citizens from rural areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; | 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines the situation of women, youth and citizens from rural areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; highlights the need for targeted education on online financial scams, including pyramid schemes, pump-and-dump schemes and fraudulent investment communities; |
Or. en
Amendment 121
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 4
| Motion for a resolution | Amendment |
| 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines the situation of women, youth and citizens from rural areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; | 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines, in particular, the situation of women, youth, the elderly, and citizens from rural areas, and the need to mobilise social partners, retail investor organisations and civil society movements, as well as the financial services sector, in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; |
Or. en
Amendment 122
Markus Ferber
Motion for a resolution
Paragraph 4
| Motion for a resolution | Amendment |
| 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines the situation of women, youth and citizens from rural areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; | 4. Reiterates the need for tailored, community-focused initiatives and rejects a one-size-fits-all logic; underlines the situation of women, youth and citizens in rural areas, and calls for collaboration with social partners, retail investor organisations, chambers of commerce, fintech and SME networks, and civil society to identify specific needs and implement concrete local projects targeting the least financially literate; |
Or. en
Amendment 123
Sirpa Pietikäinen
Motion for a resolution
Paragraph 4
| Motion for a resolution | Amendment |
| 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines the situation of women, youth and citizens from rural areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; | 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines the situation of women, persons with disabilities and impairments, youth and citizens from rural areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; |
Or. en
Amendment 124
Arba Kokalari
Motion for a resolution
Paragraph 4
| Motion for a resolution | Amendment |
| 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines the situation of women, youth and citizens from rural areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; | 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines the situation of women, youth, elderly persons and citizens from rural areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; |
Or. en
Amendment 125
Thomas Bajada
Motion for a resolution
Paragraph 4
| Motion for a resolution | Amendment |
| 4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines the situation of women, youth and citizens from rural areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; | 4. Reiterates the need for tailored and community-focused initiatives, away from a ‘one-size-fits-all’ logic; underlines the situation of women, youth and citizens from rural and isolated areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks; |
Or. en
Amendment 126
Fernando Navarrete Rojas
Motion for a resolution
Paragraph 4 – point a (new)
| Motion for a resolution | Amendment |
| (a) Highlights the importance of broadening the impact of any measure implemented either by the Member States or the Commission by aligning them with key life events or “teachable moments” in a person’s life, such as early education, major financial commitments, and retirement planning; |
Or. en
Amendment 127
Thomas Bajada, Carla Tavares, Jonás Fernández
Motion for a resolution
Paragraph 4 a (new)
| Motion for a resolution | Amendment |
| 4 a. Notes the current state as regards the insufficient levels of financial management knowhow for SMEs and micro-enterprises as one of Europe’s most persistent weaknesses and a major barrier to growth and competitiveness; emphasises in this regard, the importance of including SMEs and micro-enterprises within the core target group that could receive tailored support aimed at enhancing financial literacy in the EU; |
Or. en
Amendment 128
Denis Nesci
Motion for a resolution
Paragraph 4 a (new)
| Motion for a resolution | Amendment |
| 4a. Emphasises that gaps in financial knowledge may make people even more economically vulnerable and, in certain circumstances, contribute to economic subjugation and coercion, not least for women and other at-risk groups; |
Or. it
Amendment 129
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 4 a (new)
| Motion for a resolution | Amendment |
| 4 a. Calls for measures to strengthen the financial literacy and entrepreneurial skills of people starting new business ventures, with particular attention to entrepreneurs from disadvantaged backgrounds, including those outside the traditional education system; |
Or. en
Amendment 130
Lídia Pereira, Martine Kemp
Motion for a resolution
Paragraph 4 a (new)
| Motion for a resolution | Amendment |
| 4 a. Encourages Member States to allow and promote micro-credentials systems for adult-learning facilitators (community leaders, social workers, union representatives); |
Or. en
Amendment 131
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 4 b (new)
| Motion for a resolution | Amendment |
| 4 b. Calls on the Commission to expand Erasmus+ adult-learning actions and relevant strands of the Digital Europe Programme to help Member States design age-friendly digital- and financial-literacy courses, ensuring that older citizens and other vulnerable adults can safely use online banking, mobile payments and digital communication channels; |
Or. en
Amendment 132
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 5
| Motion for a resolution | Amendment |
| 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible and provide all the necessary information with regard to their conditions in a transparent and understandable manner; | 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible and provide all the necessary information with regard to their conditions in a transparent and understandable manner; welcomes the changes that aim to be introduced through the implementation of Directive (EU) XX/XXXX amending Directives (EU) 2009/65/EC, 2009/138/EC, 2011/61/EU, 2014/65/EU and (EU) 2016/97 as regards the Union retail investor protection rules (the Retail Investment Strategy Omnibus Directive) with a view to promoting an EU forum for the exchange of best practices at Union level; |
Or. en
Amendment 133
Denis Nesci
Motion for a resolution
Paragraph 5
| Motion for a resolution | Amendment |
| 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible and provide all the necessary information with regard to their conditions in a transparent and understandable manner; | 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible and provide all the necessary information with regard to their conditions in a transparent and understandable manner; stresses, in this connection, that priority should be given to financial literacy initiatives aimed at regions characterised by poor economic growth, low levels of savings and substantial debts incurred as a result of consumer credit, where households are at greater risk of over-indebtedness; |
Or. it
Amendment 134
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 5
| Motion for a resolution | Amendment |
| 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible and provide all the necessary information with regard to their conditions in a transparent and understandable manner; | 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible and provide all the necessary information with regard to their conditions in a transparent and understandable manner; calls for an in-depth review of the functioning of the financial products distribution model; highlights that European retail investors get lower returns than their international peers, notably because of the higher fees imposed on them; urges the Commission to propose a complete ban on inducements; |
Or. en
Amendment 135
Gaetano Pedulla'
Motion for a resolution
Paragraph 5
| Motion for a resolution | Amendment |
| 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible and provide all the necessary information with regard to their conditions in a transparent and understandable manner; | 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible and provide all the necessary information with regard to their conditions in a transparent and understandable manner; stresses the fundamental role of affordable, accessible and high-quality public postal banks and cooperative banking institutions in providing non-predatory financial services to all citizens, especially the most vulnerable; |
Or. en
Amendment 136
Arba Kokalari
Motion for a resolution
Paragraph 5
| Motion for a resolution | Amendment |
| 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible and provide all the necessary information with regard to their conditions in a transparent and understandable manner; | 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible and provide all the necessary information with regard to their conditions in a transparent and understandable manner; believes in consumer testing of financial product and services disclosure so that supervisory authorities can assess whether information materials and product descriptions are clear and comprehensible for actual consumers; |
Or. en
Amendment 137
Sirpa Pietikäinen
Motion for a resolution
Paragraph 5
| Motion for a resolution | Amendment |
| 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible and provide all the necessary information with regard to their conditions in a transparent and understandable manner; | 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible and keep on providing all the necessary information with regard to their conditions in a transparent and understandable manner, taking into regard the digitalising financial environment and the difficulties it can provide; |
Or. en
Amendment 138
Regina Doherty
Motion for a resolution
Paragraph 5
| Motion for a resolution | Amendment |
| 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible and provide all the necessary information with regard to their conditions in a transparent and understandable manner; | 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation, and calls on national governments to ensure that the financial instruments that are available in the market are easily accessible, are tax-attractive, are user-friendly, and provide all the necessary information with regard to their conditions in a transparent and understandable manner; |
Or. en
Amendment 139
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 5
| Motion for a resolution | Amendment |
| 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible and provide all the necessary information with regard to their conditions in a transparent and understandable manner; | 5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible, safe and provide all the necessary information with regard to their conditions in a transparent and understandable manner; |
Or. en
Amendment 140
Thomas Bajada, Carla Tavares, Jonás Fernández
Motion for a resolution
Paragraph 5 a (new)
| Motion for a resolution | Amendment |
| 5 a. Stresses that the strengthening of financial literacy is not possible without increased financial access for citizens; calls for the creation of more accessible financial instruments for all citizens, particularly those seeking an opportunity for their first investments; demands for the enforcement of existing legislation to ensure that financial instruments are easily accessible and provided with the necessary information in a transparent and understandable manner; welcomes in this regard the Commission proposal for a Savings and Investments Account (SIA) as a supporting measure to create better financial opportunities for citizens who wish to invest and calls for such instruments to be available in all Member States as part of a framework aimed towards the creation of an investment culture in the EU; |
Or. en
Amendment 141
Arba Kokalari
Motion for a resolution
Paragraph 5 a (new)
| Motion for a resolution | Amendment |
| 5 a. Stresses that legislators should ensure that rules are simple and avoid information overload for retail investors; regrets that current rules, despite aiming to improve transparency, protection and disclosure, are too complex, overlapping and numerous to support genuinely informed decisions for the average person, and therefore must be simplified; |
Or. en
Amendment 142
Sirpa Pietikäinen
Motion for a resolution
Paragraph 5 a (new)
| Motion for a resolution | Amendment |
| 5 a. Stresses that especially with the steep increase on financial and digital fraud, the need for a strong level of financial literacy in a digitalised setting as well as possible safeguards for vulnerable groups is stronger than ever; |
Or. en
Amendment 143
Lídia Pereira, Martine Kemp
Motion for a resolution
Paragraph 5 a (new)
| Motion for a resolution | Amendment |
| 5 a. Underlines the importance and added-value of public support, namely through tax incentives, for financial literacy initiatives promoted by financial services providers and industry stakeholders; |
Or. en
Amendment 144
Lídia Pereira, Martine Kemp
Motion for a resolution
Paragraph 5 b (new)
| Motion for a resolution | Amendment |
| 5 b. Recognises European enterprises as key players in a comprehensive approach to enhance financial literacy in Europe; in particular banks, financial services, payment service providers and regulated and certified advisers as essential contributors to citizens’ financial health; invites the Commission to map and compare national schemes on regulated and certified advisers and evaluate an EU-recognised label aligned with the European Qualifications Framework, with a public multilingual registry; |
Or. en
Amendment 145
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 6
| Motion for a resolution | Amendment |
| 6. Proposes the creation of a pan-European network of stakeholders and competent authorities both at the national and European level to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products; | 6. Welcomes the European Commission’s commitment to organise regular workshops with the objective of promoting the creation of a pan-European community of financial literacy practitioners from the private sector and not-for-profit organisations to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products; stresses that best practices, codes of conduct and guiding principles on financial literacy should not be developed in silos; urges, therefore, the Commission to consider involving governmental agencies and national competent authorities in the pan-European community on an ad-hoc or permanent basis; |
Or. en
Amendment 146
Denis Nesci
Motion for a resolution
Paragraph 6
| Motion for a resolution | Amendment |
| 6. Proposes the creation of a pan-European network of stakeholders and competent authorities both at the national and European level to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products; | 6. Proposes the creation of a pan-European network of stakeholders and competent authorities both at the national and European level to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products; emphasises that this network should be technical in nature, should be free of political interference and should have a transparent governance structure; stresses, to this end, the need to avoid the creation of permanent bureaucratic structures and to keep the use of costly external consulting services to a minimum, with a view to getting the resources available to services and projects aimed directly at EU citizens; |
Or. it
Amendment 147
Thomas Bajada, Jonás Fernández
Motion for a resolution
Paragraph 6
| Motion for a resolution | Amendment |
| 6. Proposes the creation of a pan-European network of stakeholders and competent authorities both at the national and European level to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products; | 6. Notes that the Commission’s communication of 30 September 2025 on a Financial Literacy Strategy for the EU includes an action to “promote the creation of a pan-European community of financial literacy practitioners”; supports the creation of this community and asks for the inclusion of stakeholders and competent authorities both at the national and European level, in order to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products; |
Or. en
Amendment 148
Dirk Gotink
Motion for a resolution
Paragraph 6
| Motion for a resolution | Amendment |
| 6. Proposes the creation of a pan-European network of stakeholders and competent authorities both at the national and European level to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products; | 6. Proposes the creation of a pan-European network of stakeholders and competent authorities both at the national and European level to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products; encourages Member States to share best practices and to particularly consider initiatives in Member States with stronger capital markets and higher financial literacy; |
Or. en
Amendment 149
Pierre Pimpie, Jorge Martín Frías, Enikő Győri, Tomáš Kubín, Auke Zijlstra
Motion for a resolution
Paragraph 6
| Motion for a resolution | Amendment |
| 6. Proposes the creation of a pan-European network of stakeholders and competent authorities both at the national and European level to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products; | 6. Proposes that existing EU and national bodies be used to facilitate voluntary exchanges between stakeholders and competent authorities, both at national and European level, with a view to developing practical and cost-effective solutions to enhance financial literacy levels and support long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products, while avoiding the creation of new permanent structures or additional budgetary burdens; |
Or. en
Amendment 150
Regina Doherty
Motion for a resolution
Paragraph 6
| Motion for a resolution | Amendment |
| 6. Proposes the creation of a pan-European network of stakeholders and competent authorities both at the national and European level to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products; | 6. Proposes the creation of a pan-European network of stakeholders and competent authorities both at the national and European level to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products including research on current knowledge gaps; |
Or. en
Amendment 151
Engin Eroglu
Motion for a resolution
Clause 6
| Motion for a resolution | Amendment |
| 6. Proposes the creation of a pan-European network of stakeholders and competent authorities both at the national and European level to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products; | 6. Proposes the creation of a voluntary pan-European network of stakeholders and competent authorities both at the national and European level to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products; |
Or. de
Amendment 152
Arba Kokalari
Motion for a resolution
Paragraph 6
| Motion for a resolution | Amendment |
| 6. Proposes the creation of a pan-European network of stakeholders and competent authorities both at the national and European level to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products; | 6. Proposes the creation of a voluntary pan-European network of stakeholders and competent authorities both at the national and European level to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products; |
Or. en
Amendment 153
Thomas Bajada, Carla Tavares, Jonás Fernández
Motion for a resolution
Paragraph 6 a (new)
| Motion for a resolution | Amendment |
| 6 a. Emphasises that investment in financial literacy yields high returns in the context of economic growth and the strengthening of individual, business and public finances; calls for increased public and private investment in financial literacy; demands, in this context, the creation of a permanent budgetary line within the EU budget specifically dedicated to financial literacy; welcomes therefore the recently approved Pilot Project dedicated to financial literacy as part of the EU’s 2026 budget which can serve as a model for a future permanent budgetary line; |
Or. en
Amendment 154
Pierre Pimpie, Jorge Martín Frías, Enikő Győri, Tomáš Kubín, Auke Zijlstra
Motion for a resolution
Paragraph 6 a (new)
| Motion for a resolution | Amendment |
| 6 a. Encourages the Commission to support the voluntary exchange of best practices between Member States on national financial literacy strategies, including platform-based approaches bringing together public authorities, schools, central banks, supervisors and civil society, as seen in several high-performing countries; underlines that such cooperation should focus on practical tools, teacher support and evidence-based programmes rather than on creating new permanent EU structures; |
Or. en
Amendment 155
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 6 a (new)
| Motion for a resolution | Amendment |
| 6 a. Calls on the Commission to integrate into the EU Financial Literacy Strategy a permanent, multilingual and Union-wide social-media awareness campaign, developed in cooperation with national authorities, public-service broadcasters, cultural networks and independent fact-checking organisations, aimed at debunking financial disinformation, promoting safe online behaviour and alerting citizens - especially young and older people - to prevalent criminal scams; |
Or. en
Amendment 156
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 6 a (new)
| Motion for a resolution | Amendment |
| 6a. Proposes calling on the Member States to incorporate financial literacy indicators into its financial inclusion strategies and to promote saving and private investment via adequate tax incentives; stresses that these strategies should be carried out in cooperation with private entities, such as associations in the financial sector, universities and specialist research centres; |
Or. es
Amendment 157
Regina Doherty
Motion for a resolution
Paragraph 6 a (new)
| Motion for a resolution | Amendment |
| 6 a. Understands that social media content provides an accessible flow of information to the public and the aim of any initiatives should be to promote responsible and accessible knowledge sharing and not to restrict the creativity or reach of said influencers; |
Or. en
Amendment 158
Arba Kokalari
Motion for a resolution
Paragraph 6 a (new)
| Motion for a resolution | Amendment |
| 6 a. Believes that national competent authorities should conduct targeted outreach through social and traditional media to strengthen awareness and improve financial literacy; |
Or. en
Amendment 159
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 6 b (new)
| Motion for a resolution | Amendment |
| 6b. Proposes promoting the development of basic and advanced financial training programmes aimed at entrepreneurs in areas such as managing cash-flow, bank and non-bank finance, venture capital tools and compliance with legislation; points out that these programmes should be underpinned by the experience of private players, including financial service providers, venture capital funds, accelerators, universities, the media and think tanks; stresses that their funding should come from private sources, so that resources from public budgets are not used to cover the costs of the courses; |
Or. es
Amendment 160
Thomas Bajada, Carla Tavares, Jonás Fernández
Motion for a resolution
Paragraph 6 b (new)
| Motion for a resolution | Amendment |
| 6 b. Encourages policymakers to embrace a “never too late to learn” approach and stresses that in an ageing continent, policy on financial literacy must adopt an intergenerational fairness strategy that leaves nobody behind; further notes the need to address the risk of social engineering where vulnerable members of society are falling victims to social-media-based scams and how financial literacy with digital literacy could become a vital tool to ensure financial security for vulnerable consumers; |
Or. en
Amendment 161
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 6 b (new)
| Motion for a resolution | Amendment |
| 6 b. Notes that financial education of students and young adults can also improve the financial knowledge of those who are part of their immediate circle, suggesting a potential multiplier effect associated with financial education focusing on younger people; |
Or. en
Amendment 162
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 6 c (new)
| Motion for a resolution | Amendment |
| 6c. Calls on the Council to issue a recommendation establishing common principles and minimum standards for financial education, based on an approach involving cooperation between the public and private sectors; proposes that the European point of reference for compiling good practice, research and tools should automatically incorporate contributions from universities, civil society organisations, think tanks and financial entities that are already promoting initiatives with good results; |
Or. es
Amendment 163
Thomas Bajada, Jonás Fernández
Motion for a resolution
Paragraph 6 c (new)
| Motion for a resolution | Amendment |
| 6 c. Calls for a stronger strategy as regards low-income and financially excluded households and vulnerable groups; emphasises that for a successful EU strategy on financial literacy, a tailormade approach towards all pockets of society must be planned and implemented; |
Or. en
Amendment 164
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena
Motion for a resolution
Paragraph 6 c (new)
| Motion for a resolution | Amendment |
| 6 c. Proposes that the Commission create dedicated financial-literacy programmes tailored to the needs of SMEs and embed financial education more systematically into lifelong-learning frameworks; |
Or. en
Amendment 165
Arba Kokalari
Motion for a resolution
Paragraph 7
| Motion for a resolution | Amendment |
| 7. Welcomes the Commission’s communication of 30 September 2025 on a Financial Literacy Strategy for the EU and takes note of its four pillars, underlining that such an important initiative must be followed up with concrete measures as soon as possible; | 7. Welcomes the Commission’s communication of 30 September 2025 on a Financial Literacy Strategy for the EU and takes note of its four pillars, underlining that such an important initiative could, where appropriate, be followed up with concrete measures; |
Or. en
Amendment 166
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 7 a (new)
| Motion for a resolution | Amendment |
| 7 a. Notes that Commission’s financial literacy strategy, as part of the Savings and Investments Union, tends to focus on competitiveness and the release of savings and investments, rather than taking a holistic approach that considers wealth inequality, equal opportunities, and financial empowerment for all citizens; notes the limited attention to gender issues and calls for concrete measures enabling citizens, particularly women and the most vulnerable groups, to build, manage, and grow their wealth; urges that financial literacy be approached comprehensively and leveraged as a tool to promote economic growth, competitiveness as well as financial equality and equal opportunity; |
Or. en
Amendment 167
Pierre Pimpie, Jorge Martín Frías, Enikő Győri, Tomáš Kubín, Auke Zijlstra
Motion for a resolution
Paragraph 7 a (new)
| Motion for a resolution | Amendment |
| 7 a. Stresses that financial literacy initiatives must remain strictly neutral with regard to individuals’ investment choices and must not be used as a tool to steer citizens’ savings towards specific political priorities, products or asset classes, including those linked to Union flagship initiatives such as the Savings and Investments Union, sustainable finance agendas or other thematic strategies; underlines that the ultimate decision on how to allocate savings must remain with households and investors themselves, in line with their own risk appetite, preferences and national frameworks; |
Or. en
Amendment 168
Fernando Navarrete Rojas
Motion for a resolution
Paragraph 7 a (new)
| Motion for a resolution | Amendment |
| 7 a. Stresses the importance of basing national and European financial literacy strategies on relevant evidence and analysis tailored to the specific characteristics of each jurisdiction; recalls the need for systemic monitoring and evaluation of financial literacy that provides comparable data to assess progress over time and to learn from best practices in other Member States; |
Or. en
Amendment 169
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 7 a (new)
| Motion for a resolution | Amendment |
| 7a. Recalls that the European Council has asked for urgent measures, starting in schools, to promote financial knowledge in society; whereas the new Strategy and its measures must be ambitious and sustainable in order to significantly improve levels of education across Europe, generating lasting change; |
Or. es
Amendment 170
Lídia Pereira, Martine Kemp
Motion for a resolution
Paragraph 7 a (new)
| Motion for a resolution | Amendment |
| 7 a. Supports the goal to deliver on an EU Action Plan on Online Fraud and recalls the need to address the high levels of fraud with sound prevention and mitigation measures at the regulatory, supervisory and administrative level; |
Or. en
Amendment 171
Fernando Navarrete Rojas
Motion for a resolution
Paragraph 7 b (new)
| Motion for a resolution | Amendment |
| 7 b. Stresses the need to focus efforts on pension literacy so that European citizens are aware of the importance of contributing to the second and third pension pillars, especially in those countries where a generous first pillar discourages contributions to the other pillars; recalls the importance of insurance and pension products as saving channels towards capital markets, boosting the development of the SIU; |
Or. en
Amendment 172
Denis Nesci
Motion for a resolution
Paragraph 8
| Motion for a resolution | Amendment |
| 8. Invites the Commission and the European Supervisory Authorities (ESAs) to create, maintain, expand and regularly update a searchable and accessible EU repository of financial education initiatives, as described in the Commission’s communication, including best practices on workplace programmes, youth engagement projects and community-based approaches to support scaling-up on Member States’ good examples; | 8. Invites the Commission and the European Supervisory Authorities (ESAs) to create, maintain, expand and regularly update a searchable and accessible EU repository of financial education initiatives, as described in the Commission’s communication, including best practices on workplace programmes, youth engagement projects and community-based approaches to support scaling-up on Member States’ good examples; emphasises that this repository should be based on existing platforms and infrastructure so as to avoid duplicating work and placing a greater strain on the EU budget; stresses that the onus should be on the quality and comparability of information available, rather than the creation of more administrative apparatus; |
Or. it
Amendment 173
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 8
| Motion for a resolution | Amendment |
| 8. Invites the Commission and the European Supervisory Authorities (ESAs) to create, maintain, expand and regularly update a searchable and accessible EU repository of financial education initiatives, as described in the Commission’s communication, including best practices on workplace programmes, youth engagement projects and community-based approaches to support scaling-up on Member States’ good examples; | 8. Commends the publication from the European Supervisory Authorities (ESAs) of a thematic repository on financial education and digitalisation initiatives of National Competent Authorities; Supports the call from the Commission for the ESAs to expand and regularly update a searchable and accessible EU repository, including best practices on workplace programmes, youth engagement projects and community-based approaches to support scaling-up of Member States’ good examples; stresses that the repository must be easily searchable and accessible; |
Or. en
Amendment 174
Gaetano Pedulla'
Motion for a resolution
Paragraph 8
| Motion for a resolution | Amendment |
| 8. Invites the Commission and the European Supervisory Authorities (ESAs) to create, maintain, expand and regularly update a searchable and accessible EU repository of financial education initiatives, as described in the Commission’s communication, including best practices on workplace programmes, youth engagement projects and community-based approaches to support scaling-up on Member States’ good examples; | 8. Invites the Commission and the European Supervisory Authorities (ESAs) to create, maintain, expand and regularly update a searchable and accessible EU repository of financial education initiatives, as described in the Commission’s communication, including best practices on workplace programmes, youth engagement projects and community-based approaches to support scaling-up on Member States’ good examples; insists that this repository must have a dedicated, section on resources for cybersecurity and scam prevention, created in cooperation with national cybersecurity agencies; |
Or. en
Amendment 175
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 8
| Motion for a resolution | Amendment |
| 8. Invites the Commission and the European Supervisory Authorities (ESAs) to create, maintain, expand and regularly update a searchable and accessible EU repository of financial education initiatives, as described in the Commission’s communication, including best practices on workplace programmes, youth engagement projects and community-based approaches to support scaling-up on Member States’ good examples; | 8. Invites the Commission and the European Supervisory Authorities (ESAs) to create, maintain, expand and regularly update a searchable and accessible EU repository of EU and national financial education initiatives, as described in the Commission’s communication, including best practices on workplace programmes, youth engagement projects and community-based approaches to support scaling-up on Member States’ good examples; the repository should also include innovative and proven initiatives from non-EU countries that could serve as blueprints for EU actions; |
Or. en
Amendment 176
Arba Kokalari
Motion for a resolution
Paragraph 8
| Motion for a resolution | Amendment |
| 8. Invites the Commission and the European Supervisory Authorities (ESAs) to create, maintain, expand and regularly update a searchable and accessible EU repository of financial education initiatives, as described in the Commission’s communication, including best practices on workplace programmes, youth engagement projects and community-based approaches to support scaling-up on Member States’ good examples; | 8. Invites the Commission and the European Supervisory Authorities (ESAs) to create, maintain, expand and regularly update a searchable and accessible EU repository of financial education initiatives, as described in the Commission’s communication, including best practices on workplace programmes, youth engagement projects and community-based approaches to support scaling-up on Member States’ good examples; underlines that any such repository should be cost-efficient and not create additional undue administrative burden for the stakeholders involved; |
Or. en
Amendment 177
Markus Ferber
Motion for a resolution
Paragraph 8
| Motion for a resolution | Amendment |
| 8. Invites the Commission and the European Supervisory Authorities (ESAs) to create, maintain, expand and regularly update a searchable and accessible EU repository of financial education initiatives, as described in the Commission’s communication, including best practices on workplace programmes, youth engagement projects and community-based approaches to support scaling-up on Member States’ good examples; | 8. Invites the Commission and the European Supervisory Authorities (ESAs) to create, maintain, expand and regularly update a searchable and accessible EU repository of financial education initiatives, as described in the Commission’s communication, including best practices on workplace programmes, youth engagement projects and community-based approaches to support scaling-up on Member States’ good examples; considers that this repository should leverage existing national and private resources as much as possible; |
Or. en
Amendment 178
Regina Doherty
Motion for a resolution
Paragraph 8
| Motion for a resolution | Amendment |
| 8. Invites the Commission and the European Supervisory Authorities (ESAs) to create, maintain, expand and regularly update a searchable and accessible EU repository of financial education initiatives, as described in the Commission’s communication, including best practices on workplace programmes, youth engagement projects and community-based approaches to support scaling-up on Member States’ good examples; | 8. Invites the Commission and the European Supervisory Authorities (ESAs) to create, maintain, expand and regularly update a searchable and accessible EU repository of financial education initiatives, as described in the Commission’s communication, including best practices on workplace programmes, youth engagement projects, knowledge sharing, and community-based approaches to support scaling-up on Member States’ good examples; |
Or. en
Amendment 179
Denis Nesci
Motion for a resolution
Paragraph 8 a (new)
| Motion for a resolution | Amendment |
| 8a. Stresses that financial literacy projects financed or co-financed via EU funding or run by public authorities should be supported by rigorous assessments tools, including, where appropriate, ex-post tests or questionnaires designed to assess the knowledge of the beneficiaries and the extent to which their financial habits have changed; urges the Commission and the Member States to discourage initiatives consisting of nothing other than events or conferences which fail to yield quantifiable added educational value; |
Or. it
Amendment 180
Thomas Bajada, Carla Tavares
Motion for a resolution
Paragraph 8 a (new)
| Motion for a resolution | Amendment |
| 8 a. Proposes the development of a metric for European Financial Empowerment as a monitoring tool to assess and compare the financial health of citizens across Member States; believes that such a metric could include factors like financial stability, accessibility to investment, education, and consumer confidence; believes that such an approach would help policymakers identify needs, set targets, and measure the long-term impact of financial initiatives on the financial wellbeing of Europeans; |
Or. en
Amendment 181
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 9
| Motion for a resolution | Amendment |
| 9. Calls on the Commission to report, by the end of 2027, on the uptake and effectiveness of the Financial Literacy Strategy, including the outcome of the ambassadors’ network, the proposed code of conduct and the EU-wide communication campaign, proposing further action if deemed necessary; | 9. Calls on the Commission to report, by the end of 2027, on the uptake and effectiveness of the Financial Literacy Strategy - disaggregated per Member State and per target area where appropriate - including the outcome of the ambassadors’ network, the proposed code of conduct and the EU-wide communication campaign, proposing further action if deemed necessary; invites the Commission to present these findings to the European Parliament; reiterates that financial literacy is an outcomes-based concept and that national strategies should have clear and measurable indicators of progress, drawing upon the OECD/INFE Toolkit for Measuring Financial Literacy and Financial Inclusion1a; moreover, the setting of targets and deliverables should encourage national-ownership of strategies; advises the Commission and Member States to incorporate a level of flexibility into financial literacy strategies so that they may be adapted based on the findings of any efficacy assessment; |
| _________________ | |
| 1a OECD (2022), OECD/INFE Toolkit for Measuring Financial Literacy and Financial Inclusion 2022 |
Or. en
Amendment 182
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena
Motion for a resolution
Paragraph 9
| Motion for a resolution | Amendment |
| 9. Calls on the Commission to report, by the end of 2027, on the uptake and effectiveness of the Financial Literacy Strategy, including the outcome of the ambassadors’ network, the proposed code of conduct and the EU-wide communication campaign, proposing further action if deemed necessary; | 9. Calls on the Commission to report, by the end of 2026, on the uptake and effectiveness of the Financial Literacy Strategy, including the outcome of the ambassadors’ network, the proposed code of conduct and the EU-wide communication campaign, proposing further action if deemed necessary; calls on the Commission to do an annual progress report and Eurobarometer on Financial Literacy; stresses that the Commission should report specifically on the impact of its strategy on young audiences, women, older learners and the most vulnerable groups; |
Or. en
Amendment 183
Denis Nesci
Motion for a resolution
Paragraph 9
| Motion for a resolution | Amendment |
| 9. Calls on the Commission to report, by the end of 2027, on the uptake and effectiveness of the Financial Literacy Strategy, including the outcome of the ambassadors’ network, the proposed code of conduct and the EU-wide communication campaign, proposing further action if deemed necessary; | 9. Calls on the Commission to report, by the end of 2027, on the uptake and effectiveness of the Financial Literacy Strategy, including the outcome of the ambassadors’ network, the proposed code of conduct and the EU-wide communication campaign and, where the desired results have not been satisfactorily achieved, to put forward the requisite action plan without delay; |
Or. it
Amendment 184
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 9
| Motion for a resolution | Amendment |
| 9. Calls on the Commission to report, by the end of 2027, on the uptake and effectiveness of the Financial Literacy Strategy, including the outcome of the ambassadors’ network, the proposed code of conduct and the EU-wide communication campaign, proposing further action if deemed necessary; | 9. Calls on the Commission to report, by the end of 2027, on the uptake and effectiveness of the Financial Literacy Strategy, including the outcome of the ambassadors’ network, the proposed code of conduct and the EU-wide communication campaign, proposing further action if deemed necessary, highlighting best practices that other Member States may adopt; |
Or. es
Amendment 185
Regina Doherty
Motion for a resolution
Paragraph 9 a (new)
| Motion for a resolution | Amendment |
| 9 a. Recognises that financial literacy can be derived from many sources, and that this multiplicity of approaches is beneficial; recognises also that people are already exploring opportunities for retail investment through easy-to-use products such as ETFs, often via online portals or digital applications; stresses the value for society and for individual financial security of increased financial market participation by retail investors; welcomes the move towards a culture of investment among Europeans, driven in part by media and online engagement, and calls for this to be accelerated; |
Or. en
Amendment 186
Aurore Lalucq
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Notes the Commission’s commitment to a regulatory simplification agenda and the concrete efforts to reduce the administrative burden, which is leading to several targeted legislative initiatives; asks the Commission to consider the principles that informed its communication on a Financial Literacy Strategy in the context of possible initiatives on banking, financial markets or insurance regulatory frameworks; | deleted |
Or. en
Amendment 187
Denis Nesci
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Notes the Commission’s commitment to a regulatory simplification agenda and the concrete efforts to reduce the administrative burden, which is leading to several targeted legislative initiatives; asks the Commission to consider the principles that informed its communication on a Financial Literacy Strategy in the context of possible initiatives on banking, financial markets or insurance regulatory frameworks; | 10. Notes the Commission’s commitment to a regulatory simplification agenda and the concrete efforts to reduce the administrative burden, which is giving rise to several targeted legislative initiatives; asks the Commission to consider the principles that informed its communication on a financial education strategy in the context of possible initiatives on banking, financial markets or insurance regulatory frameworks in order to make financial products more transparent and easier to understand for end users, without undermining existing standards of protection for consumers and investors; |
Or. it
Amendment 188
Arba Kokalari
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Notes the Commission’s commitment to a regulatory simplification agenda and the concrete efforts to reduce the administrative burden, which is leading to several targeted legislative initiatives; asks the Commission to consider the principles that informed its communication on a Financial Literacy Strategy in the context of possible initiatives on banking, financial markets or insurance regulatory frameworks; | 10. Notes the Commission’s commitment to a regulatory simplification agenda and the concrete efforts to reduce the administrative burden, which is leading to several targeted legislative initiatives; Asks the Commission to apply the principles of its Financial Literacy Strategy when developing possible future initiatives in banking, financial markets or insurance regulation; |
Or. en
Amendment 189
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Notes the Commission’s commitment to a regulatory simplification agenda and the concrete efforts to reduce the administrative burden, which is leading to several targeted legislative initiatives; asks the Commission to consider the principles that informed its communication on a Financial Literacy Strategy in the context of possible initiatives on banking, financial markets or insurance regulatory frameworks; | 10. Asks the Commission to consider the principles that informed its communication on a Financial Literacy Strategy in the context of possible initiatives on banking, financial markets or insurance regulatory frameworks; |
Or. en
Amendment 190
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Notes the Commission’s commitment to a regulatory simplification agenda and the concrete efforts to reduce the administrative burden, which is leading to several targeted legislative initiatives; asks the Commission to consider the principles that informed its communication on a Financial Literacy Strategy in the context of possible initiatives on banking, financial markets or insurance regulatory frameworks; | 10. Emphasises that financial education initiatives cannot replace the need for a strong investor protection framework; points out that financial literacy efforts may be limited because investors are influenced by biases and behaviours and financial markets are fast-moving and complex; believes that initiatives at EU and Member State level to support the standardisation and simplicity of financial products could enhance EU citizens understanding and the comparability of investment products; |
Or. en
Amendment 191
Regina Doherty
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Notes the Commission’s commitment to a regulatory simplification agenda and the concrete efforts to reduce the administrative burden, which is leading to several targeted legislative initiatives; asks the Commission to consider the principles that informed its communication on a Financial Literacy Strategy in the context of possible initiatives on banking, financial markets or insurance regulatory frameworks; | 10. Notes the Commission’s commitment to a regulatory simplification agenda and the concrete efforts to reduce the administrative burden, which is leading to several targeted legislative initiatives; asks the Commission to consider the principles that informed its communication on a Financial Literacy Strategy in the context of possible initiatives on banking, financial markets or insurance regulatory frameworks; recognises the benefits of online communication for improving financial literacy; |
Or. en
Amendment 192
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Notes the Commission’s commitment to a regulatory simplification agenda and the concrete efforts to reduce the administrative burden, which is leading to several targeted legislative initiatives; asks the Commission to consider the principles that informed its communication on a Financial Literacy Strategy in the context of possible initiatives on banking, financial markets or insurance regulatory frameworks; | 10. Notes the Commission’s commitment to a regulatory simplification agenda and the concrete efforts to reduce the administrative burden, which is leading to several targeted legislative initiatives; asks the Commission to consider the principles that informed its communication on a Financial Literacy Strategy in the context of possible initiatives on banking, financial markets or insurance regulatory frameworks, as well as its planned Education Package, foreseen in the 2026 work programme; |
Or. en
Amendment 193
Markus Ferber
Motion for a resolution
Paragraph 10
| Motion for a resolution | Amendment |
| 10. Notes the Commission’s commitment to a regulatory simplification agenda and the concrete efforts to reduce the administrative burden, which is leading to several targeted legislative initiatives; asks the Commission to consider the principles that informed its communication on a Financial Literacy Strategy in the context of possible initiatives on banking, financial markets or insurance regulatory frameworks; | 10. Welcomes the Commission’s commitment to a regulatory simplification agenda and the concrete efforts to reduce the administrative burden, which is leading to several targeted legislative initiatives; asks the Commission to ensure that the principles of proportionality, subsidiarity and evidence-based analysis that informed its Financial Literacy Strategy guide any future initiatives in banking, financial markets or insurance; |
Or. en
Amendment 194
Pierre Pimpie, Enikő Győri, Auke Zijlstra
Motion for a resolution
Paragraph 10 a (new)
| Motion for a resolution | Amendment |
| 10 a. Calls on the Commission to refrain from proposing new legislative obligations in the field of financial and digital consumer protection unless clear, evidence-based regulatory gaps have been identified, as repeatedly highlighted by stakeholders during the preparatory consultations for the 2025–2030 Consumer Agenda; emphasises that the enforcement of existing rules must remain the priority, in line with the concerns expressed by businesses and several public authorities; |
Or. en
Amendment 195
Fernando Navarrete Rojas
Motion for a resolution
Paragraph 10 a (new)
| Motion for a resolution | Amendment |
| 10 a. Calls to ensure that financial education keeps pace with technological advancements by regularly updating financial and cyber skills frameworks, fostering resilient and sustainable competencies; considers the Digital Education Action Plan (2021-2027) to ensure these frameworks are evolving in sync; |
Or. en
Amendment 196
Denis Nesci
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Stresses the need for systematic policy coherence across financial literacy, retail investor protection rules, the blueprint for Savings and Investment Accounts (SIAs), other SIU initiatives, and banking and financial market regulations; | 11. Stresses the need for systematic policy coherence across financial literacy, retail investor protection rules, the blueprint for Savings and Investment Accounts (SIAs), other SIU initiatives, and banking and financial market regulations; affirms, in this connection, that country-specific recommendations and EU funding should, as a matter of priority, be focused on areas and sections of the population characterised by poorer standards of financial literacy, more widespread use of consumer credit and greater risks of over-indebtedness; |
Or. it
Amendment 197
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Stresses the need for systematic policy coherence across financial literacy, retail investor protection rules, the blueprint for Savings and Investment Accounts (SIAs), other SIU initiatives, and banking and financial market regulations; | 11. Stresses the need for systematic policy coherence across financial literacy, retail investor protection rules, the blueprint for Savings and Investment Accounts (SIAs), other SIU initiatives, and banking and financial market regulations; calls for a European Financial Literacy Coordination Board bringing together the Commission, the ECB, the EIB, social partners, civil society organisations, NGOs and youth organisations to align strategies, share best practices and provide input to the Commission and Member States; |
Or. en
Amendment 198
Kinga Kollár
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Stresses the need for systematic policy coherence across financial literacy, retail investor protection rules, the blueprint for Savings and Investment Accounts (SIAs), other SIU initiatives, and banking and financial market regulations; | 11. Stresses the need for systematic policy coherence across financial literacy, retail investor protection rules, the blueprint for Savings and Investment Accounts (SIAs), other SIU initiatives, and banking and financial market regulations, with the objective of offering transparent, risk-appropriate but easily accessible financial products for citizens; |
Or. en
Amendment 199
Gaetano Pedulla'
Motion for a resolution
Paragraph 11
| Motion for a resolution | Amendment |
| 11. Stresses the need for systematic policy coherence across financial literacy, retail investor protection rules, the blueprint for Savings and Investment Accounts (SIAs), other SIU initiatives, and banking and financial market regulations; | 11. Stresses the need for systematic policy coherence across financial literacy, retail investor protection rules, the blueprint for Savings and Investment Accounts (SIAs), other SIU initiatives, and banking and financial market regulations, with the primary objective of protecting consumers and citizens, not merely deepening capital markets; |
Or. en
Amendment 200
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 11 a (new)
| Motion for a resolution | Amendment |
| 11 a. Stresses that financial literacy must also cover cybersecurity skills, including recognising phishing, online scams and AI-generated fraud, and calls on the Commission to link its financial literacy and cybersecurity strategies through coordinated public awareness campaigns; |
Or. en
Amendment 201
Lídia Pereira, Martine Kemp
Motion for a resolution
Paragraph 11 a (new)
| Motion for a resolution | Amendment |
| 11 a. Supports the designation of a yearly "European Financial Education Day" to promote ongoing awareness-raising initiatives, following-up on the European Economic and Social Committee Opinion on "Financial literacy and education for Europeans" of 16 July 2025; |
Or. en
Amendment 202
Lídia Pereira, Martine Kemp
Motion for a resolution
Paragraph 11 b (new)
| Motion for a resolution | Amendment |
| 11 b. Reinforce the call for systematic coherence with legislative instruments beyond financial services and the banking sector, underlining the importance to guarantee the consideration of financial literacy matters in the context of the future Digital Fairness Act and the Digital Services Act enforcement so that platform duties and consumer-law rules support literacy outcomes and safe digital investment journeys; |
Or. en
Amendment 203
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 11 b (new)
| Motion for a resolution | Amendment |
| 11 b. Calls on the Commission to explore the potential and limitations of AI in promoting financial literacy, including personalised AI-driven education tools tailored to different user needs, and to use AI technologies to detect fraud, scams, deepfakes and other AI-generated threats; |
Or. en
Amendment 204
Lídia Pereira, Martine Kemp
Motion for a resolution
Paragraph 11 d (new)
| Motion for a resolution | Amendment |
| 11 d. Encourages the Commission to integrate national comparison schemes for savings and investment accounts into an EU comparison mechanism with all-in fee comparators and visual explainers on dimensions such as risk/return, compounding, inflation, fees, among others; |
Or. en
Amendment 205
Lídia Pereira, Martine Kemp
Motion for a resolution
Paragraph 11 f (new)
| Motion for a resolution | Amendment |
| 11 f. Reiterates that savings and investment accounts portability across providers and borders is important to fulfil the goals of the Savings and Investments Union; in this context, understands that the EU SIA portability should be low-cost and should not trigger taxable events; |
Or. en
Amendment 206
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Proposes the launch of a comprehensive report, commissioned by the Commission, to identify the need and added value of possible targeted legislative initiatives to adapt essential legislation to the political objectives of enhancing financial, digital, data and media literacy. | deleted |
Or. en
Amendment 207
Arba Kokalari
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Proposes the launch of a comprehensive report, commissioned by the Commission, to identify the need and added value of possible targeted legislative initiatives to adapt essential legislation to the political objectives of enhancing financial, digital, data and media literacy. | 12. Proposes the launch of a comprehensive report, commissioned by the Commission, to identify whether there is a need and added value of possible targeted legislative initiatives to adapt and above all simplify essential legislation to the political objectives of enhancing financial, digital, data and media literacy; |
Or. en
Amendment 208
Pierre Pimpie, Jorge Martín Frías, Enikő Győri, Tomáš Kubín, Auke Zijlstra
Motion for a resolution
Paragraph 12
| Motion for a resolution | Amendment |
| 12. Proposes the launch of a comprehensive report, commissioned by the Commission, to identify the need and added value of possible targeted legislative initiatives to adapt essential legislation to the political objectives of enhancing financial, digital, data and media literacy. | 12. Proposes the launch of a comprehensive report, commissioned by the Commission, to identify the need and added value of non-legislative measures to adapt existing frameworks to the political objectives of enhancing financial, digital, data and media literacy, and only, where clearly justified by evidence, to consider strictly targeted legislative initiatives, avoiding unnecessary regulatory burdens; |
Or. en
Amendment 209
Denis Nesci
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12a. Calls on the Commission to base the aforementioned comprehensive report, as a matter of priority, on existing EU instruments such as the European Semester framework, Eurobarometer surveys and international surveys on financial literacy in order to identify the most pressing needs and assess policy effectiveness; stresses that new legislative initiatives on financial literacy and online financial content should be supported by a rigorous impact assessment demonstrating the added value of the full implementation of existing EU law, with particular regard to digital services and consumer protections; |
Or. it
Amendment 210
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 12 a (new)
| Motion for a resolution | Amendment |
| 12 a. Recalls the increasing number of investors focusing on environmental, social, and governance (ESG) criteria when making financial decisions, and the growing importance of sustainable, ethical, and social-impact investments; calls for financial literacy initiatives and content to also address the real economy impact of these investments and their broader value to society, rather than focusing solely on wealth accumulation; |
Or. en
Amendment 211
Lídia Pereira, Martine Kemp
Motion for a resolution
Paragraph 12 b (new)
| Motion for a resolution | Amendment |
| 12 b. Underlines the potential added-value of projects in the framework of Horizon Europe regarding “Financial Literacy, Digital Influence and Retail-Investor Protection”, in line with the need to attract global behavioural-finance talent to the EU; |
Or. en
Amendment 212
Fernando Navarrete Rojas
Motion for a resolution
Subheading 3
| Motion for a resolution | Amendment |
| The responsibility of finfluencers for enhancing financial literacy in Europe | The responsibility of finfluencers and digitalisation for enhancing financial literacy in Europe |
Or. en
Amendment 213
Denis Nesci
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Highlights the role of finfluencers as emerging intermediaries of relevant financial information who reach young and previously underserved audiences; notes their significantly increased responsibility and accountability towards their audience; | 13. Highlights the role of finfluencers as emerging intermediaries of relevant financial information who reach young and previously underserved audiences; notes their significantly increased responsibility and accountability towards their audience; draws a sharp distinction between finfluencers who operate transparently (i.e. those who declare conflicts of interest and provide educational content) and individuals who use financial education as a smokescreen, including by messaging people directly or sending links to group messages, to promote speculative products and betting or gambling services, often in breach of EU rules on false advertising and consumer protection; |
Or. it
Amendment 214
Isabel Benjumea Benjumea
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Highlights the role of finfluencers as emerging intermediaries of relevant financial information who reach young and previously underserved audiences; notes their significantly increased responsibility and accountability towards their audience; | 13. Highlights the role of finfluencers as emerging intermediaries of relevant financial information who reach young and previously underserved audiences; notes their significantly increased responsibility and accountability towards their audience, which is an incentive for them to receive financial training in order to make independent decisions and be able to check the veracity of information; |
Or. es
Amendment 215
Gaetano Pedulla'
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Highlights the role of finfluencers as emerging intermediaries of relevant financial information who reach young and previously underserved audiences; notes their significantly increased responsibility and accountability towards their audience; | 13. Highlights the role of finfluencers as emerging intermediaries of relevant financial information who reach young and previously underserved audiences; notes their significantly increased responsibility and accountability towards their audience, recognises that their business model is often based on attracting attention and can lead to the promotion of high-risk, speculative products unsuitable for retail investors; |
Or. en
Amendment 216
Angelika Winzig
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Highlights the role of finfluencers as emerging intermediaries of relevant financial information who reach young and previously underserved audiences; notes their significantly increased responsibility and accountability towards their audience; | 13. Highlights the role of finfluencers as emerging intermediaries of relevant financial information who reach young and previously underserved audiences; notes their significantly increased responsibility and accountability towards their audience; supports therefore the establishment of a harmonised disclosure requirement obliging finfluencers to clearly disclose any commercial relationships or paid partnerships; |
Or. en
Amendment 217
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Highlights the role of finfluencers as emerging intermediaries of relevant financial information who reach young and previously underserved audiences; notes their significantly increased responsibility and accountability towards their audience; | 13. Highlights the role of finfluencers as emerging intermediaries of relevant financial information who reach young and previously underserved audiences; notes their significantly increased responsibility and accountability towards their audience; stresses, however, the risk of finfluencers acting fraudulently or with malicious intent, promoting unauthorised products, or giving unqualified advice; |
Or. en
Amendment 218
Markus Ferber
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Highlights the role of finfluencers as emerging intermediaries of relevant financial information who reach young and previously underserved audiences; notes their significantly increased responsibility and accountability towards their audience; | 13. Highlights the growing role of finfluencers as intermediaries of financial information reaching young and previously underserved audiences; notes their potential to improve financial literacy, but recalls that they must comply with existing financial promotion and consumer-protection rules and have increased responsibility and accountability towards their audiences; |
Or. en
Amendment 219
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Highlights the role of finfluencers as emerging intermediaries of relevant financial information who reach young and previously underserved audiences; notes their significantly increased responsibility and accountability towards their audience; | 13. Highlights the role of finfluencers as emerging intermediaries of relevant financial information who often target young or vulnerable people; notes their significantly increased responsibility and accountability towards their audience; recognises the increasing position of finfluencers as main vehicles of commercial communications on financial or investment services; |
Or. en
Amendment 220
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 13
| Motion for a resolution | Amendment |
| 13. Highlights the role of finfluencers as emerging intermediaries of relevant financial information who reach young and previously underserved audiences; notes their significantly increased responsibility and accountability towards their audience; | 13. Highlights the role of finfluencers as emerging intermediaries of financial information who reach young and previously underserved audiences; notes their significantly increased responsibility and accountability towards their audience; |
Or. en
Amendment 221
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 13 a (new)
| Motion for a resolution | Amendment |
| 13 a. While financial advisers are subject to strict regulatory requirements, it should be noted that finfluencers may de facto act as “online advisers” yet are not currently subject to any specific regulatory framework, thereby leaving the door open to misleading practices; welcomes in this regard the changes that aim to be introduced by Directive (EU) XX/XXXX amending Directives (EU) 2009/65/EC, 2009/138/EC, 2011/61/EU, 2014/65/EU and (EU) 2016/97 as regards the Union retail investor protection rules (the Retail Investment Strategy Omnibus Directive), currently under negotiation by the co-legislators, that seek to address the risks posed to retail investors by finfluencers by placing obligations on finfluencers and the financial services firms engaging their services; notes, however, that some finfluencers are neither engaged by authorised financial institutions, nor offering authorised financial products or advice and therefore fall outside the remit of supervision of the competent authorities; |
Or. en
Amendment 222
Thomas Bajada, Jonás Fernández
Motion for a resolution
Paragraph 13 a (new)
| Motion for a resolution | Amendment |
| 13 a. Notes that the rise of finfluencers presents both opportunities and risks as they may promote financial products or services for personal gain, driven by paid sponsorships or affiliate links, and against the interests of their target market; |
Or. en
Amendment 223
Thomas Bajada, Jonás Fernández
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Encourages the Commission to explicitly cover finfluencers and platforms hosting financial content in the European Code of Conduct for private and not-for-profit organisations, namely through a voluntary seal for compliant creators. | 14. Encourages the Commission to explicitly cover finfluencers and platforms hosting financial content in the European Code of Conduct for private and not-for-profit organisations, namely through a voluntary seal for compliant creators or an EU “Impartiality Label” for finfluencers to auto-certify that they have no commercial ties to specific products or platforms; considers moreover that the Commission should evaluate the creation of an EU register of accredited financial educators that would be limited to individuals with recognised professional qualifications, thus helping citizens distinguish impartial educators from commercial influencers; |
Or. en
Amendment 224
Gaetano Pedulla'
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Encourages the Commission to explicitly cover finfluencers and platforms hosting financial content in the European Code of Conduct for private and not-for-profit organisations, namely through a voluntary seal for compliant creators. | 14. Encourages the Commission to explicitly cover finfluencers and platforms hosting financial content in the European Code of Conduct for private and not-for-profit organisations, namely through a voluntary seal for compliant creators; considers, however, that voluntary measures are insufficient and calls on the Commission to propose a dedicated legislative framework to regulate finfluencers, including mandatory registration, clear liability for financial advice, and strict rules on disclosure of conflicts of interest and paid promotions; |
Or. en
Amendment 225
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Encourages the Commission to explicitly cover finfluencers and platforms hosting financial content in the European Code of Conduct for private and not-for-profit organisations, namely through a voluntary seal for compliant creators. | 14. Regrets that the Commission’s Communication on a financial literacy strategy does not sufficiently acknowledge the benefits offered and risks posed by finfluencers; encourages the Commission to explicitly cover finfluencers and platforms hosting financial content in the European Code of Conduct for private and not-for-profit organisations, namely through a voluntary seal for compliant creators; |
Or. en
Amendment 226
Denis Nesci
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Encourages the Commission to explicitly cover finfluencers and platforms hosting financial content in the European Code of Conduct for private and not-for-profit organisations, namely through a voluntary seal for compliant creators; | 14. Encourages the Commission to explicitly cover finfluencers and platforms hosting financial content in the European Code of Conduct for private and not-for-profit organisations in order to lay down common minimum requirements on transparency, on managing conflicts of interest and on the quality of information provided, while refraining from using seals or labels that may be perceived as an official EU rubber stamp for individual creators; |
Or. it
Amendment 227
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Encourages the Commission to explicitly cover finfluencers and platforms hosting financial content in the European Code of Conduct for private and not-for-profit organisations, namely through a voluntary seal for compliant creators. | 14. Encourages the Commission to explicitly cover finfluencers and platforms hosting financial content in the European Code of Conduct for private and not-for-profit organisations, namely through a voluntary seal for compliant creators; proposes the Commission the creation of an EU-level certification or training scheme for financial-education content creators and a voluntary EU platform of Trusted Digital Financial Educators; |
Or. en
Amendment 228
Pierre Pimpie, Jorge Martín Frías, Enikő Győri, Tomáš Kubín, Auke Zijlstra
Motion for a resolution
Paragraph 14
| Motion for a resolution | Amendment |
| 14. Encourages the Commission to explicitly cover finfluencers and platforms hosting financial content in the European Code of Conduct for private and not-for-profit organisations, namely through a voluntary seal for compliant creators. | 14. Encourages the Commission to explicitly cover finfluencers and platforms hosting financial content in the European Code of Conduct for private and not-for-profit organisations on a voluntary and proportionate basis, ensuring that any such guidance does not amount to de facto licensing or restriction of lawful speech and that it remains fully compatible with freedom of expression and media pluralism; |
Or. en
Amendment 229
Thomas Bajada, Jonás Fernández
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14 a. Stresses the need for a clear and effective framework to monitor and supervise finfluencers, to protect consumers from misinformation and conflicts of interest and to preserve trust in online financial education; calls on Member States to establish advisory panels of independent financial practitioners to support financial literacy bodies and to oversee and moderate financial content shared by finfluencers; |
Or. en
Amendment 230
Lídia Pereira, Martine Kemp
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14 a. Calls on platforms to implement know-your-promotion tools to label commercial content and to deploy standardised risk-warning overlays for higher-risk products; recommends the introduction of short learning instruments embedded in sponsored content, aligned with EU/OECD competence frameworks and referring to trusted public resources; |
Or. en
Amendment 231
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 14 a (new)
| Motion for a resolution | Amendment |
| 14 a. Calls very large online platforms to take actions in relation those activities of influencers, including finfluencers, that may be qualified as systemic risks and consequently affect the high-level of consumer protection enshrined in Article 38 of the Charter of Fundamental Rights; |
Or. en
Amendment 232
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 14 b (new)
| Motion for a resolution | Amendment |
| 14 b. Underlines that, pursuant to the Digital Services Act, online platforms must act expeditiously to remove or disable access to illegal content. highlights that Very Large Online Platforms (VLOPs), in particular, must take timely and effective measures to mitigate systemic risks linked to the dissemination of fraudulent or harmful content, ensuring rapid detection, prioritised processing, and swift removal of such material in order to protect consumers and prevent large-scale harm; |
Or. en
Amendment 233
Lídia Pereira, Martine Kemp
Motion for a resolution
Paragraph 14 b (new)
| Motion for a resolution | Amendment |
| 14 b. Encourages Member States to offer training for finfluencers on legal obligations and financial-education basics, delivered by public authorities and accredited providers, with a voluntary “Compliant Creator” seal; |
Or. en
Amendment 234
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 14 c (new)
| Motion for a resolution | Amendment |
| 14 c. Underlines the importance of the effective oversight and enforcement of the European framework, in particular the Digital Services Act and the Audiovisual Media Services Directive, related to the commercial communications online in view of safeguarding consumers’ wellbeing and reducing risks of financial harms online; |
Or. en
Amendment 235
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 14 d (new)
| Motion for a resolution | Amendment |
| 14 d. Calls on the Commission to evaluate the European legal framework related to influencers, including finfluencers, in view of ensuring highest standards of users and consumers protection, in particular minors and vulnerable users and, if deemed necessary, propose targeted provisions in the context of the Digital Fairness Act and the revision of the Audiovisual Media Services Directive, while ensuring a full complementarity and alignment of those instruments; |
Or. en
Amendment 236
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 14 e (new)
| Motion for a resolution | Amendment |
| 14 e. Calls on the Commission to strengthen the enforcement of Union investor-protection rules in the digital sphere, in particular by ensuring that activities carried out via social media and other online platforms which amount to the provision of investment services are treated in full compliance with MiFID II and MAR; further calls on the Commission to assess whether the current regulatory framework sufficiently addresses the growing role of online content creators in disseminating investment-related information and recommendations, and to propose, where necessary, targeted measures to close enforcement gaps and prevent the circumvention of Union financial-services legislation; |
Or. en
Amendment 237
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 14 f (new)
| Motion for a resolution | Amendment |
| 14 f. Underlines the importance of deontological and ethical standards for finfluencers as well as for the brands cooperating with them, given the impact on the financial well-being of their audiences and calls for further development of the self-regulatory mechanisms with deontological and ethical guidelines for finfluencers; stresses that such instruments, developed in cooperation with relevant regulators, should aim to improve the communication around financial products, which should include an easy to understand information on potential financial risks related to such products; |
Or. en
Amendment 238
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena, Aurore Lalucq
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Calls on platforms to continue promoting prominent and legitimate educational channels on financial literacy and reiterates the importance of implementing innovative features in the field of labelling commercial communications, risk-warning solutions and fast-track notice-and-action procedures against illegal or clearly harmful content; | 15. Calls on platforms to continue promoting prominent and legitimate educational channels on financial literacy and reiterates the importance of implementing innovative features in the field of labelling commercial communications, risk-warning solutions and fast-track notice-and-action procedures against illegal or clearly harmful content; notes the importance of swiftly developing a regulatory framework that remains flexible and able to incorporate emerging trends in financial markets, ensuring that regulatory responses keep pace with real-world developments, including those linked to social media and so-called “finfluencers”; |
Or. en
Amendment 239
Angelika Winzig
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Calls on platforms to continue promoting prominent and legitimate educational channels on financial literacy and reiterates the importance of implementing innovative features in the field of labelling commercial communications, risk-warning solutions and fast-track notice-and-action procedures against illegal or clearly harmful content; | 15. Calls on platforms to continue promoting prominent and legitimate educational channels on financial literacy and reiterates the importance of implementing innovative features in the field of labelling commercial communications, risk-warning solutions and fast-track notice-and-action procedures against illegal or clearly harmful content; urges platforms to refine the identification and handling of content that might encourage pyramid schemes or other potentially deceptive practices targeting inexperienced retail users; |
Or. en
Amendment 240
Sirpa Pietikäinen
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Calls on platforms to continue promoting prominent and legitimate educational channels on financial literacy and reiterates the importance of implementing innovative features in the field of labelling commercial communications, risk-warning solutions and fast-track notice-and-action procedures against illegal or clearly harmful content; | 15. Calls on platforms to continue promoting prominent and legitimate educational channels on financial literacy and reiterates the importance of implementing innovative features in the field of labelling commercial communications, risk-warning solutions and fast-track notice-and-action procedures against illegal or clearly harmful content; stresses the need for quick and compulsory intervention from the platforms to remove misleading or fraudulent content with clear consequences for the influencers; |
Or. en
Amendment 241
Adnan Dibrani, Eero Heinäluoma
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Calls on platforms to continue promoting prominent and legitimate educational channels on financial literacy and reiterates the importance of implementing innovative features in the field of labelling commercial communications, risk-warning solutions and fast-track notice-and-action procedures against illegal or clearly harmful content; | 15. Calls on platforms to continue promoting prominent and legitimate educational channels on financial literacy and reiterates the responsibility of platforms in identifying and mitigating risks of misleading content and online fraud, including through importance of implementing innovative features in the field of labelling commercial communications, risk-warning solutions and fast-track notice-and-action procedures against illegal or clearly harmful content; |
Or. en
Amendment 242
Arba Kokalari
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Calls on platforms to continue promoting prominent and legitimate educational channels on financial literacy and reiterates the importance of implementing innovative features in the field of labelling commercial communications, risk-warning solutions and fast-track notice-and-action procedures against illegal or clearly harmful content; | 15. Calls on national competent authorities, social partners, civil society and other stakeholders to continue promoting prominent and legitimate educational channels on financial literacy; reiterates the importance of platforms implementing innovative features in the field of labelling commercial communications, general risk-warning solutions and fast-track notice-and-action procedures against illegal content; |
Or. en
Amendment 243
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 15
| Motion for a resolution | Amendment |
| 15. Calls on platforms to continue promoting prominent and legitimate educational channels on financial literacy and reiterates the importance of implementing innovative features in the field of labelling commercial communications, risk-warning solutions and fast-track notice-and-action procedures against illegal or clearly harmful content; | 15. Calls on platforms to continue promoting trustworthy educational content on financial literacy and reiterates the importance of implementing compulsory labelling of commercial communications, risk-warning solutions and fast-track notice-and-action procedures against illegal or clearly harmful content; |
Or. en
Amendment 244
Denis Nesci
Motion for a resolution
Paragraph 15 a (new)
| Motion for a resolution | Amendment |
| 15a. Calls on the Commission and the Member States to ensure that EU law on digital services and unfair commercial practices is properly implemented in respect of physical or legal persons who use content sharing platforms to systematically promote channels or links to finance scams, fraudulent investment schemes or bogus betting and gambling services passed off as financial education or investment advice; stresses that such activities should be met with effective, proportionate and dissuasive sanctions, including hefty fines, the suspension or closure of accounts, and bans on monetising financial content, as well as swift procedures to take down content and report it to the competent authorities; encourages the authorities of the Member States to work together to clamp down on networks that use online aliases or secondary channels, including groups on instant messaging services; |
Or. it
Amendment 245
Denis Nesci
Motion for a resolution
Paragraph 15 a (new)
| Motion for a resolution | Amendment |
| 15a. Notes that financial content disseminated by individuals in environments free of oversight may have a particularly significant influence on those with limited financial knowledge, including young people, women and economically vulnerable groups; stresses the importance of harnessing approaches including financial, media and digital literacy to equip people with the skills they need to think more critically about financial information online, and thus make them less susceptible to misleading or commercially motivated content; |
Or. it
Amendment 246
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 15 a (new)
| Motion for a resolution | Amendment |
| 15 a. Welcomes the political agreement reached on the Payment Services Regulation, in particular the new obligation for very large online platforms and very large search engines to verify that advertisers of financial services are duly authorised to provide a financial service or acting on behalf of a person authorised before disseminating financial advertising; stresses that this obligation shall apply in relation to finfluencers promoting financial services on those platforms; |
Or. en
Amendment 247
Pierre Pimpie, Enikő Győri, Tomáš Kubín, Auke Zijlstra
Motion for a resolution
Paragraph 15 a (new)
| Motion for a resolution | Amendment |
| 15 a. Calls for a stronger focus on online fraud, scams and manipulative digital practices, which represent one of the main sources of financial harm for vulnerable consumers, in particular young people; stresses the need to improve cross-border enforcement against non-EU traders and to strengthen cooperation within the Consumer Protection Cooperation Network; |
Or. en
Amendment 248
Denis Nesci
Motion for a resolution
Paragraph 15 b (new)
| Motion for a resolution | Amendment |
| 15b. Stresses the importance of establishing a legal framework capable of addressing the requirements, be they inherently subjective or objective, that finfluencers have to abide by; points out that under the existing legal framework, financial intermediaries must comply with a series of measures that seek to afford the utmost standard of protection for investors; notes, in addition, that compulsory measures – and the corresponding investments – aimed at improving the technical expertise of financial advisers form an integral part of this, and are geared towards the selfsame objective; deems it of paramount importance therefore, including for the benefit of investors, to ensure that the same conditions genuinely apply to other operators who, since they cannot be classed as financial intermediaries, are not seemingly subject to the same requirements, including as regards financial expertise; |
Or. it
Amendment 249
Angelika Winzig
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Underlines the social responsibility of finfluencers and their valuable contribution to increasing levels of financial literacy; calls, therefore, on these digital actors to contribute to establishing the European Financial Strategy, and to participate in events and initiatives promoted by the Commission and/or the Member States, while complying with the highest standards of independence and transparency; | 16. Underlines the social responsibility of finfluencers and their valuable contribution to increasing levels of financial literacy; calls, therefore, on these digital actors to contribute to establishing the European Financial Strategy, and to participate in events and initiatives promoted by the Commission and/or the Member States, while complying with the highest standards of independence and transparency; expects finfluencers to refrain from presenting highly speculative products in a misleading manner or disguising risks through aggressive marketing techniques; |
Or. en
Amendment 250
Aurore Lalucq
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Underlines the social responsibility of finfluencers and their valuable contribution to increasing levels of financial literacy; calls, therefore, on these digital actors to contribute to establishing the European Financial Strategy, and to participate in events and initiatives promoted by the Commission and/or the Member States, while complying with the highest standards of independence and transparency; | 16. Underlines the social responsibility of finfluencers considering their capacity to increase reach out towards a new public; calls, therefore, on these digital actors to comply with the highest standards of independence and transparency; |
Or. en
Amendment 251
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Underlines the social responsibility of finfluencers and their valuable contribution to increasing levels of financial literacy; calls, therefore, on these digital actors to contribute to establishing the European Financial Strategy, and to participate in events and initiatives promoted by the Commission and/or the Member States, while complying with the highest standards of independence and transparency; | 16. Underlines the social responsibility of finfluencers considering their capacity to increase outreach towards a new public and their contribution to increasing levels of financial literacy; calls, therefore, on these digital actors to contribute to establishing the European Financial Strategy, and to participate in events and initiatives promoted by the Commission and/or the Member States, while complying with the highest standards of independence and transparency; |
Or. en
Amendment 252
Markus Ferber
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Underlines the social responsibility of finfluencers and their valuable contribution to increasing levels of financial literacy; calls, therefore, on these digital actors to contribute to establishing the European Financial Strategy, and to participate in events and initiatives promoted by the Commission and/or the Member States, while complying with the highest standards of independence and transparency; | 16. Underlines the social responsibility of finfluencers and their potential contribution to financial awareness; encourages these digital actors, on a voluntary basis, to participate in awareness campaigns and education events promoted by the Commission or Member States, while observing high standards of transparency and editorial independence and abiding by rules on unbiased financial promotion; |
Or. en
Amendment 253
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 16
| Motion for a resolution | Amendment |
| 16. Underlines the social responsibility of finfluencers and their valuable contribution to increasing levels of financial literacy; calls, therefore, on these digital actors to contribute to establishing the European Financial Strategy, and to participate in events and initiatives promoted by the Commission and/or the Member States, while complying with the highest standards of independence and transparency; | 16. Underlines the social responsibility of finfluencers and their valuable contribution to increasing levels of financial literacy; calls on finfluencers to contribute to establishing the European Financial Strategy, and to participate in events and initiatives promoted by the Commission and/or the Member States, while complying with the highest standards of independence and transparency; |
Or. en
Amendment 254
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 16 a (new)
| Motion for a resolution | Amendment |
| 16 a. Regrets that some finfluencers' advice are given under conflict of interests; considers that finfluencers should systematically disclose any potential conflict of interest and in particular if they perceive any form of remuneration for the advice they provide; notes the strong bias of certain finfluencers towards investments in highly speculative and unproductive assets, such as crypto assets; |
Or. en
Amendment 255
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 16 b (new)
| Motion for a resolution | Amendment |
| 16 b. Encourages finfluencers to integrate the double materiality principle in their advice, by raising retail investors’ awareness of the ESG risks of an investment but also the impact investments can have on ESG factors; |
Or. en
Amendment 256
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 17
| Motion for a resolution | Amendment |
| 17. Declares its availability to help evaluate the added value of EU guidance on finfluencer communications, given the potentially negative impact of advertising risky products and unverified or misleading advice promoted by some actors, without proper accountability; | deleted |
Or. en
Amendment 257
Gaetano Pedulla'
Motion for a resolution
Paragraph 17
| Motion for a resolution | Amendment |
| 17. Declares its availability to help evaluate the added value of EU guidance on finfluencer communications, given the potentially negative impact of advertising risky products and unverified or misleading advice promoted by some actors, without proper accountability; | 17. Declares its availability to help evaluate the added value of EU guidance on finfluencer communications, given the potentially negative impact of advertising risky products and unverified or misleading advice promoted by some actors, without proper accountability; call for an immediate ban on the promotion of high-risk, speculative financial products (such as Contracts for Difference - CFDs, crypto-assets not qualified as financial instruments, and unregulated products) by finfluencers to retail clients; |
Or. en
Amendment 258
Denis Nesci
Motion for a resolution
Paragraph 17
| Motion for a resolution | Amendment |
| 17. Declares its availability to help evaluate the added value of EU guidance on finfluencer communications, given the potentially negative impact of advertising risky products and unverified or misleading advice promoted by some actors, without proper accountability; | 17. Declares its availability to help evaluate the added value of EU guidance on finfluencer communications; highlights the need, in that connection, to clamp down on dubious promotional practices liable to push consumers into taking on too much risk, with particular regard to unverified content or content that fails to ensure that providers are held accountable; |
Or. it
Amendment 259
Marie Toussaint
on behalf of the Verts/ALE Group
Motion for a resolution
Paragraph 17
| Motion for a resolution | Amendment |
| 17. Declares its availability to help evaluate the added value of EU guidance on finfluencer communications, given the potentially negative impact of advertising risky products and unverified or misleading advice promoted by some actors, without proper accountability; | 17. Declares its availability to help evaluate the added value of a harmonised EU framework for commercial communications, given the negative impact of advertising risky products and unverified or misleading advice promoted by some actors, without proper accountability; |
Or. en
Amendment 260
Denis Nesci
Motion for a resolution
Paragraph 17 a (new)
| Motion for a resolution | Amendment |
| 17a. Points out that under the existing legal framework, financial intermediaries must comply with a series of measures that seek to afford the utmost standard of protection for investors; notes, in addition, that compulsory measures – and the corresponding investments – aimed at improving the technical expertise of financial advisers form an integral part of this; deems it of paramount importance therefore, including for the benefit of investors, to ensure that the same conditions genuinely apply to other operators who, since they cannot be classed as financial intermediaries, are not seemingly subject to the same requirements, including as regards financial expertise; |
Or. it
Amendment 261
Kinga Kollár, Lídia Pereira
Motion for a resolution
Paragraph 17 a (new)
| Motion for a resolution | Amendment |
| 17 a. Calls the attention that if finfluencers share on social media any opinion in relation to the value or the price of a financial instrument or recommend an investment strategy even from educational purpose, they may be posting an investment recommendation falling under the scope of the Market Abuse Regulation (MAR); notes that some public communications posted on social media can carry risks in relation to market abuse, i.e. market manipulation, insider dealing and unlawful disclosure of inside information;1a | |
| _________________ | |
| 1a warning ‘For people posting Investment Recommendation on social media’ issued by the European Securities and Markets Authority on 6 February 2024 |
Or. en
Amendment 262
Adnan Dibrani, Eero Heinäluoma
Motion for a resolution
Paragraph 17 a (new)
| Motion for a resolution | Amendment |
| 17 a. Highlights the rapid increase in coordinated online market manipulation schemes, such as pump and dump operations involving shares or crypto assets, which mislead retail investors through orchestrated tips on social media and result in significant financial losses; warns that such practices erode trust in financial markets and risk undermining the development of the Savings and Investments Union by discouraging citizens from participating in capital markets; |
Or. en
Amendment 263
Lídia Pereira, Martine Kemp
Motion for a resolution
Paragraph 17 a (new)
| Motion for a resolution | Amendment |
| 17 a. Urges ESMA and national authorities to issue practical guidance on when social-media posts qualify as investment recommendations under EU market-abuse rules, clarifying disclosure duties; |
Or. en
Amendment 264
Adnan Dibrani, Eero Heinäluoma
Motion for a resolution
Paragraph 17 b (new)
| Motion for a resolution | Amendment |
| 17 b. Calls on the Commission to fully enforce the union's digital rules, notably the Digital Services Act (DSA), to ensure that online platforms take their full responsibility to mitigate risks and protect consumers against online fraud and financial scams, including AI-generated deepfakes; further calls on the Commission, Member States and the European Supervisory Authorities (ESAs) to strengthen monitoring and early detection capacities, including the use of advanced analytical tools, to better protect investors and safeguard confidence in the financial market, as public trust is key for building financial literacy and unlocking private investments; |
Or. en
Amendment 265
Lídia Pereira, Martine Kemp
Motion for a resolution
Paragraph 17 b (new)
| Motion for a resolution | Amendment |
| 17 b. Notes the growing use of AI-generated financial content and calls for AI-origin disclosure and watermarking standards, in line with the AI Act and sectoral guidance on AI use in retail investment services; |
Or. en
Amendment 266
Arba Kokalari
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Proposes that the Commission organise a pan-European summit of finfluencers to discuss measures to enhance financial literacy in Europe and discuss how these digital actors should be regulated; | deleted |
Or. en
Amendment 267
Billy Kelleher, Stéphanie Yon-Courtin, Vlad Vasile-Voiculescu, Ľudovít Ódor
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Proposes that the Commission organise a pan-European summit of finfluencers to discuss measures to enhance financial literacy in Europe and discuss how these digital actors should be regulated; | deleted |
Or. en
Amendment 268
Carla Tavares, Thomas Bajada, Costas Mavrides, Nikos Papandreou, Evelyn Regner, Adnan Dibrani, Jonás Fernández, César Luena
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Proposes that the Commission organise a pan-European summit of finfluencers to discuss measures to enhance financial literacy in Europe and discuss how these digital actors should be regulated; | 18. Proposes that the Commission organise a pan-European summit of finfluencers to discuss measures to enhance financial literacy in Europe and discuss how these digital actors should be regulated; recommends that the proposed summit include civil-society organisations, trade unions, consumer associations and educators and institutional stakeholders; |
Or. en
Amendment 269
Markus Ferber
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Proposes that the Commission organise a pan-European summit of finfluencers to discuss measures to enhance financial literacy in Europe and discuss how these digital actors should be regulated; | 18. Proposes that the Commission organise a pan-European summit involving finfluencers, financial services and fintech representatives, consumer groups, and regulators, to discuss best practices for online financial literacy and to explore appropriate, proportionate approaches (such as self-regulation or voluntary standards) to ensure accuracy of digital financial content; |
Or. en
Amendment 270
Adnan Dibrani, Eero Heinäluoma
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Proposes that the Commission organise a pan-European summit of finfluencers to discuss measures to enhance financial literacy in Europe and discuss how these digital actors should be regulated; | 18. Proposes that the Commission organise a pan-European summit of finfluencers to discuss measures to enhance financial literacy in Europe and discuss how these digital actors should be regulated, and how to ensure effective enforcement of current digital, consumer protection and financial supervisory rules; |
Or. en
Amendment 271
Regina Doherty
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Proposes that the Commission organise a pan-European summit of finfluencers to discuss measures to enhance financial literacy in Europe and discuss how these digital actors should be regulated; | 18. Proposes that the Commission organise a pan-European summit of finfluencers to discuss measures to enhance financial literacy in Europe, including sessions on best practices and accessibility, and discuss how these digital actors should be regulated; |
Or. en
Amendment 272
Aurore Lalucq
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Proposes that the Commission organise a pan-European summit of finfluencers to discuss measures to enhance financial literacy in Europe and discuss how these digital actors should be regulated; | 18. Proposes that the Commission organise a consultation regarding how finfluencers should be regulated also in view of to enhancing financial literacy in Europe; |
Or. en
Amendment 273
Thomas Bajada
Motion for a resolution
Paragraph 18
| Motion for a resolution | Amendment |
| 18. Proposes that the Commission organise a pan-European summit of finfluencers to discuss measures to enhance financial literacy in Europe and discuss how these digital actors should be regulated; | 18. Proposes a pan-European summit to discuss measures to enhance financial literacy in Europe, including the participation of finfluencers to and discuss how these digital actors should be regulated; |
Or. en
Amendment 274
Regina Doherty
Motion for a resolution
Paragraph 18 a (new)
| Motion for a resolution | Amendment |
| 18 a. Calls on the Commission and national governments to work with financial influencers to produce informative, fact-based, responsible, and engaging media campaigns about the opportunities afforded by retail participation in financial markets and to boost financial literacy in an attractive way in order to build a culture of investment in the European Union; |
Or. en
Amendment 275
Fernando Navarrete Rojas
Motion for a resolution
Paragraph 18 a (new)
| Motion for a resolution | Amendment |
| 18 a. Underlines that the use of digitalisation and artificial intelligence can generate substantial added value in making investment opportunities, competition and transparency more visible, by providing, among other things, financial literacy tools, fee and product comparison, and personalised return assessments based on real-time market data; |
Or. en
Amendment 276
Fernando Navarrete Rojas
Motion for a resolution
Paragraph 18 b (new)
| Motion for a resolution | Amendment |
| 18 b. Stresses that AI can support scaling affordable financial advice, enable automated personalised portfolio creation, expand financial education programmes and underpin the delivery of tailored nudges to encourage behaviours optimised for one’s financial goals; points out that AI tools also could entail significant risks depending on how it is used by finfluencers; calls on the Commission to carefully oversight how to address its impacts and to mitigate its potential risks; |
Or. en