Nordea is not exactly excited about the proposals in the new official report on the Swedish premium pension system. Instead, Nordea urges a proper evaluation of the 29-point program that was recently implemented to improve consumer protection at the trading platform Fondtorget before taking further steps.
The report calls for extensive changes to the allowed selection of funds on the trading platform Fondtorget, and the establishment of a new fund authority.
"Nordea believes it is essential to first properly evaluate the effects of the 29-point program before taking the next step. Because major radical changes take time to implement and the consequences are not always predictable," the bank writes in an official Nordea statement by Head of Funds Maria Rengefors.
She fully supports the action taken by authorities to remove rogue players from the platform Fondtorget as it is crucial to safeguard savers' interest.
"At the same time, we are beginning to see that the 29-point program recently implemented to improve consumer protection has had an effect," she says, adding:
"There is a risk of wasting resources if you do not use the experience you have now, but instead create a new authority with new assignments. Several of the proposals, such as an improved interface, can be made without the introduction of a new authority."