After MIFID1, which was launched 10 years ago with the aim of improving investor protection, MIFID2 (Markets in Financial Instruments Directive) is now on its way, bringing even more meticulous and demanding operating objectives and rules.
Spanish banks investment funds
Spanish banks (and their fund management companies) continue to charge high commissions on their investment funds and pension plans. They can afford to do that because in Spain, the clients are the banks’ clients and they are cautious. So there is little competition in this sector, unlike in the UK.