The proposal for creation of a new Technical Committee (CEN/TC) the field of Finance is made by DIN.
Standardization in the field of finance. The aims to standardize various topics related to finance, which include:
Purpose and justification of the proposal
Тhe focus will be on sustainable finance standardization in a European context, integrating relevant ISO standardization activities and complementing existing initiatives and regulations. By developing standards, the committee aims to enhance transparency, consistency, and trust in financial practices. This facilitates informed decision-making and sustainable investments, which ultimately contributes to the alignment of the financial system with global sustainability goals. Additionally, the TC will contribute to the advancement of financial and risk analysis for private customers, as well as product declaration practices.
The CEN/TC Finance will develop standards for basic financial analysis and risk analysis specifically tailored to private customers. These standards will provide guidelines and methodologies for individuals to assess their financial health, understand investment risks, and make informed financial decisions by establishing common methodologies and frameworks. Financial institutions will be able to accurately assess and align their offers with investor values. This will strengthen investor confidence, enable personalized investment solutions, and promote consumer protection.
The committee will address needs for standardized practices in (sustainable) finance by developing standards specifically focused on finance in a European context. These standards will help harmonize sustainability factors and disclosure requirements, promoting transparency, comparability, and credibility in financial products and services. By providing a unified approach and consistent methodologies, the committee will complement and align with existing frameworks, enhancing their effectiveness and coherence. This collaboration will foster coordination among different stakeholders and promote a cohesive financial ecosystem in Europe, benefiting consumers, investors, and organizations alike.
Need for standardization at European level
CEN/ТC Finance is crucial to harmonize standards, integrate EU sustainability goals, inspire investor confidence, exert global influence, stimulate market development, and support effective regulation.
Summarized, a European Technical Committee on Finance will provide an improvement of tools and solutions focussed platform for Europe to exert international influence and leadership in shaping (sustainable) finance standards and consumer protection practices globally. It will promote consumer protection and welfare, provide guidance to organizations on sustainable financing and investment decisions, as well as supporting European policy and legislation.
NWIP on “Basic financial analysis for private customers”
The potential stakeholders:
In case of national interest, Bulgaria can support the creation of this CEN/TC Finance.
The national stakeholders can provide their position on the proposal for this new field of CEN technical activity by 20.10.2023 to Desislava Gulenova: firstname.lastname@example.org, tel: +359 2 81 74 581.
For more information about the proposal see here: