This is the best summary I could come up with:

Though the Commission’s proposed inducements ban would, at least initially, only apply where intermediaries aren’t providing financial advice, it’s already met with an immediate pushback from the European Parliament, where liberal lawmaker Stéphanie Yon-Courtin has been put in charge of rewriting the rulebook.

Yon-Courtin, from Emmanuel Macron’s Renaissance grouping, told a conference convened by the European Fund and Asset Management Association (EFAMA) she has “erased” the proposed rules from her legislative draft, saying “I don’t believe that a ban, either partial or total, is the solution to all our issues.”

A series of benchmarks set out in the Commission’s plan — which could see underperforming funds forced to withdraw from sale — could imply state-imposed price controls, and the norms are “biased towards low-cost products,” Yon-Courtin said.

Today, Swedes — with a simplified tax structure on their investments, easy access to digital technology, a nonprofit programme to inform young investors — have more than double the EU average of ownership of stocks, bonds and funds.

When it comes to boosting retail investment, “we don’t have a silver bullet — otherwise we’d have done it already,” Sandro Pierri, chief executive officer of BNP Paribas Asset Management and EFAMA president, told reporters last week.

“Another trend around young retail investors: they massively invest in cryptoassets,” Delphine de Chaisemartin, deputy director general of French asset management lobby group AFG, told the conference.

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