Competition on the financial services market acts as a driver of economic growth and helps propel technological progress. On the other hand, the monopolisation of local financial services markets and uneven regional development lead to distorted market incentives, reduced access to services for consumers, and the emergence of opaque pricing on the financial market.
Is leadership in innovation and pricing good for competition or a tool for entrenching domination on the financial market?
Are new technologies and business models an opportunity to develop competition in the interests of consumers or a threat to regulatory arbitration? Do these matters help weaken geographical and sectoral barriers while promoting even development of the financial market in Russia?
The report by the European Securities and Markets Authority (ESMA) provides an analysis of key determinants of the benefits and risks retail investors in the EU should be considering when taking investment decisions.