Risks and fees of financial products Promote information disclosure in a common format FSA June 30 4:16
In order to enable people who purchase financial products such as investment trusts and insurance to understand at a glance how much the risk of price reductions and fees will be charged, the Financial Services Agency will prepare instructions for financial institutions in a common format and information. Will be urged to publish.
Foreign currency-denominated insurance, which operates in currencies other than the yen, may be at risk of loss due to fluctuations in exchange rates, but the insurance company sold it without sufficient explanation, and complaints from customers continued.
Even with the sale of investment trusts, I am in trouble due to lack of explanation of fees.
As a result, the FSA has urged financial institutions to act so that customers can check and compare financial products at a glance.
Create a manual in a common format and ask to disclose information
about
▽ how much there is a risk of price drop due to exchange rate fluctuations, ▽ how much the fee will be charged if you buy an investment trust or make a profit It is a policy.
In addition, the FSA will strengthen its supervision and inspections to sell financial products that match the client's asset status, and will clarify that financial institutions should be disposed of if there is a problem.
The Financial Services Agency asks experts to discuss the matter in a specialized committee of the Financial Services Council, and to squeeze in specific details.