http://www.conpolicy.de/ Conpolicy-News en http://www.conpolicy.de/typo3conf/ext/tt_news/ext_icon.gif http://www.conpolicy.de/ 18 16 Conpolicy-News TYPO3 - get.content.right http://blogs.law.harvard.edu/tech/rss Tue, 08 May 2012 20:03:00 +0200 http://www.conpolicy.de/en/news/news/article/britische-finanzaufsicht-fsa-fordert-staerkeren-verbraucherfokus.html In the context of a speech at the Chartered Institute of Bankers in Scotland Martin Wheatley, Managing Director of the Financial Services Authority (FSA), explained that while policy makers and firms had learned the lessons from the financial crisis on the prudential side of banking, this was not... He also said that the FSA was currently revising its approach to supervision. This approach will be adopted by the Financial Conduct Authority (FCA) which will replace the FSA next year.  More emphasis will be put on understanding why people make mistakes and why firms do what they do. Hence the FSA was looking at consumer behaviour, and business models in firms to inform the new, more forward looking and intrusive approach to supervision. In this the FSA will recognize that firms need to be able to generate acceptable returns. But firms should generate ‘good profits’ rather than profits at any cost. Furthermore, he articulated the expectation that also those in executive management and on the boards of firms will step up their engagement with the conduct side of business. It was to ask why boards of banks did not ask the management of firms about how things like PPI could be so profitable - 15 percent of some bank’s profits - and still deliver the fair treatment of customers. More information: http://www.fsa.gov.uk/library/communication/pr/2012/048.shtml Source: FSA]]> Tue, 08 May 2012 20:03:00 +0200 http://www.conpolicy.de/en/news/news/article/britische-verbraucherschutzbehoerde-beziffert-den-verbrauchervorteil-auf-85-mio-pfund-bei-haustuerg.html Today the British OFT published the results of a study on doorstep sales. The study investigated the question what impact the Regulations 2008 on Cancellation of Contracts Made in a Consumer’s Home or Place of Work had. The study estimates that the improved cancellation rights have saved consumers... Consumers are, however, concerned about high-pressure tactics particularly in sales of home repairs and mobility aids. Common practices cited include price discounting on the condition that the consumer purchases the product on the same day as the doorstep visit, and an unrealistically high initial price followed by discounting.  Amelia Fletcher, OFT Chief Economist, argued: “This report shows that strengthened cancelation rights and better information have had a positive impact on doorstep sales, but consumers should remain on their guard. High pressure sales tactics are an ongoing problem and consumers should give themselves time to shop around and look for traders displaying an OFT Approved code logo.“ Further information: http://www.oft.gov.uk/news-and-updates/press/2012/37-12 Source: OFT]]> Wed, 02 May 2012 16:00:00 +0200 http://www.conpolicy.de/en/news/news/article/conpolicy-moderiert-veranstaltung-zu-csr-im-mittelstand-fuer-das-bmas.html Small and medium size enterprises (SMEs) represent the backbone of the German economy in which 99 percent of all companies are SMEs which employ more than 60 percent of the work force. Hence SMEs play a key role in operating socially responsibly (CSR). On th 20th of April 2012 the German Federal... Information about the conference). The conference will be moderated by Dr Christian Thorun, Director of ConPolicy GmbH.]]> Fri, 20 Apr 2012 09:00:00 +0200 http://www.conpolicy.de/en/news/news/article/conpolicy-stellt-studie-zu-beschaeftigten-und-verbraucherinteressen-bei-einem-dgb-workshop-vor.html Ensuring employment, decent working conditions and a fair pay on the one side, low prices on the other side: At first look employee and consumer interests seem to be at odds. While this tension should not be neglected, the reality is more nuanced. In some instances employees and consumers have... study which was financed by the German Hans-Böckler-Stiftung ConPolicy investigated how employee and consumer interests are related. In doing so foundation documents of labour unions and consumer organisations were analysed and two case studies were conducted in the telecommunication and electricity markets. The results are presented at a workshop hosted by the DGB (Confederation of German Trade Unions) today. Dr Christian Thorun discusses the results of the study with the member of the executive board of the DGB, Claus Matecki, and the Director of the Federation of German Consumer Organizations, Gerd Billen, and other participants.]]> Mon, 19 Mar 2012 11:00:00 +0100 http://www.conpolicy.de/en/news/news/article/conpolicy-moderiert-debatte-zum-zukunftsfaehigen-konsum.html Which are the pathways to responsible living? - The PERL-Conference „Beyond Consumption: Pathways to Responsible Living“ will explore this question with international guests at the Technische Universität Berlin within the next two days. ConPolicy-Director Dr Christian Thorun moderates the... PERL-Conference „Beyond Consumption: Pathways to Responsible Living“ will explore this question with international guests at the Technische Universität Berlin within the next two days. ConPolicy-Director Dr Christian Thorun moderates the opening panel discussions on the topic „Rio+30: Going beyond consumption“. Discussants are the author of the international bestseller „Prosperity without Growth“, Prof Tim Jackson (University of Surrey, UK), Fanny Demassieux (UNEP), Dr Vanessa Timmer (One Earth, Canda) and Victoria Thoresen (Associate professor at Hedmark University College, Norway).]]> Mon, 19 Mar 2012 10:00:00 +0100 http://www.conpolicy.de/en/news/news/article/conpolicy-moderiert-workshop-beim-rat-fuer-nachhaltige-entwicklung.html Sustainability labels are an important instrument to enable public and private consumers to purchase sustainable products and services. Labels can communicate product features which cannot be seen (such as labour conditions). However, today consumers are confronted with a great variety of different... Thu, 15 Mar 2012 00:00:00 +0100 http://www.conpolicy.de/en/news/news/article/britische-finanzaufsicht-veroeffentlicht-analyse-zu-den-groessten-verbraucherrisiken.html Today the British Financial Services Authority (FSA) published an analysis of the main risks which potentially face British consumers in the financial services sector in the next one to one-and-a-half years. The analysis shows that: consumers continue to struggle with the effects of a slower... The analysis shows that:

• consumers continue to struggle with the effects of a slower economy,
• low interest rates and
• poor returns on investments.

The results of these trends are that consumers are saving more, shopping around and pay off their debt. The FSA sees a danger in that consumers might be sold unsuitable products - everything from products that are too risky for them, to products they do not understand or that do not meet their individual circumstances. Martin Wheatley, FSA managing director, said: “Consumers rely on financial firms and their products to provide them with vital services - literally the means to run their lives. They need to be able to trust that the products they buy work for them and that they are getting a fair deal. But our report today shows that consumers worry they aren’t being sold the right products.” Further information: http://www.fsa.gov.uk/library/communication/pr/2012/025.shtml and http://www.fsa.gov.uk/static/pubs/other/rcro12.pdf Source: FSA]]> Tue, 13 Mar 2012 20:27:00 +0100 http://www.conpolicy.de/en/news/news/article/britische-finanzaufsicht-veroeffentlicht-anleitung-zur-wiedergutmachung-von-geschaedigten-kaeufern-v.html Many firms mis-sold British consumers payment protection insurance (PPI) in the past years. Now firms begin to contact consumers who may have been mis-sold a policy but have not yet complained. The British Financial Services Authority seeks to support this process by putting forward proposed...

that the letter contains important information and should be read carefully;

that the customer may have been mis-sold;

the specific failings that led the firm to believe the customer may have been mis-sold;

that the customer may have suffered a financial loss and could be entitled to redress; and

 that the letter requires careful and immediate consideration and there is a time limit for making a complaint.

Martin Wheatley, FSA managing director, commented: “This is important guidance and marks a key moment in the story of PPI. So far the majority of payouts have been for complaints received before, or put on hold during, the judicial review. However, we are now beginning to see firms considering how to treat customers who were mis-sold but have not complained. We think that the redress due from this process may well exceed what has been paid so far, and that is why we are acting now to clarify our expectations.”   For more information: http://www.fsa.gov.uk/library/communication/pr/2012/021.shtml Source: FSA]]> Tue, 06 Mar 2012 20:26:00 +0100 http://www.conpolicy.de/en/news/news/article/eu-studie-deckt-schwierigkeiten-beim-wechsel-eines-bankkontos-auf.html Today the European Commission published a study which investigates the ease by which consumers can switch their bank account. It also takes into account the common principles which were developed by the Banking Industry Committee. The study shows that switching a bank account was not as easy... The study shows that switching a bank account was not as easy as one should expect:

• only 19 percent of mystery shoppers were able to successfully open a bank account with a new bank and switch a standing order based on the process described in the Common Principles established through self-regulation.
• 71 percent of banks would not assist in the transfer (not following the procedures outlined in the Common Principles).

• 7 percent of banks approached did not open an account and/or switch a standing order within fourteen working days. 

• while the study also found that 86 percent of consumers enquiring about a switch either in a bank branch, online or by telephone, did receive information from at least one information source, the level of information provided was found to vary widely. 14% of consumers received no information at all. The study also mentions a low level of awareness about switching among bank staff.

EU Health and Consumer Commissioner John Dalli said, "I would have liked to see this self regulation initiative working better and banks doing more to make switching easier for European consumers. Consumers need to be able to look for opportunities in the market without undue difficulty or fear of disruption of their payments or receipts. People should be able to change their bank account as easily as they do any other service." EU Internal Market Commissioner Michel Barnier said "The results of the study published today explain why consumers change their banks so rarely.  If consumers are not able to easily switch bank accounts, they cannot take advantage of better and cheaper banking services on offer elsewhere.  The single market is thus deprived of the competitive drive that leads to innovation, cost savings and better quality banking services. This, in the long-run, can prove to be an obstacle to growth". The European Commission is now assessing possible courses of action to adequately address the shortcomings identified in this study with switching.   Further information: http://europa.eu/rapid/pressReleasesAction.do?reference=IP/12/164&format=HTML&aged=0&language=EN&guiLanguage=en#footnote-1 and http://ec.europa.eu/consumers/rights/docs/switching_bank_accounts_report_en.pdf Source: European Commission ]]> Fri, 24 Feb 2012 19:51:00 +0100 http://www.conpolicy.de/en/news/news/article/us-regierung-stellt-entwurf-fuer-datenschutzgrundrechte-vor.html Today the Obama administration published a blueprint for a Consumer Privacy Bill of Rights for the Digital Age. This bill includes seven key rights: Individual control: Consumers have a right to exercise control over what personal data companies collect from them and how they use it.Transparency:...

Individual control: Consumers have a right to exercise control over what personal data companies collect from them and how they use it.

Transparency: Consumers have a right to easily understandable and accessible information about privacy and security practices.

Respect for Context: Consumers have a right to expect that companies will collect, use, and disclose personal data in ways that are consistent.

Security: Consumers have a right to secure and responsible handling of personal data.

Access and Accuracy: Consumers have a right to access and correct personal data in usable formats, in a manner that is appropriate to the sensitivity and risk associated with the data.

Focused Collection: Consumers have a right to reasonable limits on the personal data that companies collect and retain.

Accountability: Companies should be accountable to enforcement authorities and consumers for adhering to these problems.

President Obama explained: “Never has privacy been more important than today … So, it is incumbent on us to do what we have done throughout history: apply our timeless privacy values to the new technologies and circumstances of our times."  The US consumer organisations Consumers Union and Consumer Federation of America welcomed the blueprint in principle. Susan Grant, Director of Consumer Protection at Consumer Federation of America, said: “We are encouraged by this announcement today, but we urge the Administration to ensure that it carries out this process in a fair and transparent manner, and that consumer voices are heard and acted on.” Further information: http://www.whitehouse.gov/blog/2012/02/23/we-can-t-wait-obama-administration-calls-consumer-privacy-bill-rights-digital-age, http://www.consumerfed.org/pdfs/GrantWH-PrivacyEventPR2-23-12.pdf and http://www.consumerfed.org/pdfs/Multi-stakeholderProcessPR2-23-12.pdf Source: White House, Consumers Union and Consumer Federation of America]]> Thu, 23 Feb 2012 20:40:00 +0100