It is now the task of investor protection to ensure that issuers provide adequate information about the chances and risks of their products. Investor protection is important. It not only serves to protect the consumer but also to boost the attractiveness of the capital markets. However, it would be in nobody’s interest if investor protection were mainly to get bogged down in greater bureaucracy.
That being said, I am convinced that supervisors can contribute to sustainable growth by ensuring that supervised entities are resilient to plausible shocks, properly managed, adequately capitalised and subject to an efficient risk management and the right incentives. We as the SSM take a medium to long-term perspective on this, while resisting those who argue for short-term relief.