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When certificates package insert, each organization wants a say

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FRANKFURT. Sunday evening at the panel discussion with Anne Will. "I’m out," she says. Anne Will has had just read sentences from a product information sheet (PIB) for financial products is explained in the operation of a discount certificate.

The ARD presenter does not understand the text well. Provoke is part of the business. Will that Anne does not understand the text, but is also due to the simple description of a discount certificate is thoroughly unsuccessful and even contains errors. The description has issued the Federal Association of German Banks (BdB). It’s embarrassing.

Other organizations such as the BVR is therefore want to do better. The central association of the cooperative banking industry has in the past week, together with the German Savings Banks and Giro Association (DSGV) a motion for a uniform product information sheet presented. Piquant: In the attached press release, the BdB is kindly invited to "join in this market standard."

That the BdB will follow the bold call, is not likely. But maybe it fits its next version of PIB to the Tuesday of the German Derivatives Association DDV presented product information sheet. Or he is inspired by the DSGV, who threw on Wednesday, a general information leaflet for all investment into the ring. You can choose from ING DiBa also leaflets available, the Deutsche Bank and MLP.

Vanity currently seems to be more important than transparency

Common to the designs that they want to make according to particular press release for more transparency. In fact, they make especially for confusion. One gets the impression that there is currently less concerned about transparency than vanity. Thus BVR DSGV and claim for themselves, 80 percent of investors as clients may largely determine the rules that German Bank himself as leader anyway responsible for allowances, and the Bankers Association seeks to act as representatives of private banks to have its say.

In the Central Credit Committee (ZKA) are the counterparts will soon meet to discuss the way forward. Possess the DDV, whose members are the greatest expertise to set a uniform standard when it comes to package inserts, is in the Central Credit Committee, unfortunately not represented. He can only hope to be at least asked for advice.

Otherwise, could adopt hochbesetzten in the panel discussion at the outset and some CEOs and lawyers – most likely with the sentence: "I’m out."