EACB response to the ESMA Consultation Paper on Draft guidelines for the assessment of knowledge and competence (ESMA/2015/753)

The European Association of Cooperative Banks (EACB) welcomes the opportunity to contribute to the ESMA Consultation Paper on Draft guidelines for the assessment of knowledge and competence as co-operative banks are dedicated at   offering high quality investment advice and information about   financial   instruments,   investment   services   or   ancillary   services   to their clients on a country-wide basis by combining the added value that face-to-face contact with bank employees and physical proximity of bank offices can bring, with the advantages offered by the internet. More particularly, apart from providing on-line banking channels, co-operative banks invest in a network of offices and branches staffed with highly qualified and trained employees that can offer personalised advice or simply offer clients the chance to get answer to their investment related questions. In doing so, they make high quality and interactive investment services available in a very user friendly way also to (non internet-based) clients in more remote and less populated areas of the EU.