Discussion on "A guide to Monte Carlo simulation concepts for assessment of risk-return profiles for regulatory purposes" (Graf and Korn, 2020)

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      <subfield code="a">Discussion on "A guide to Monte Carlo simulation concepts for assessment of risk-return profiles for regulatory purposes" (Graf and Korn, 2020)</subfield>
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      <subfield code="a">A major challenge in the area of retail financial products or pension products is the provision of adequate product information. First and foremost, this applies to consumers who need comprehensible product information. One of the most important investment advices is that you should only invest if you understand how a particular investment works. Opportunities for higher returns are usually associated with higher risks. Opportunities and risks should therefore be clearly recognizable. Comprehensible pre-contractual information is key to achieving this goal. It is therefore the regulatory authority's goal to create a framework for transparent, comparable customer information such that customers can make informed decisions. Last but not least, comparable and transparent product information is also desirable from the perspective of product suppliers. On the one hand, they ensure fair competition between different product classes. On the other, they avoid unexpected customer disappointments with possible claims for damages against intermediaries and suppliers.

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