Financial Services in the European Union
The Financial Services Action Plan (FSAP), adopted by the European Ccommission in May 1999, is a package of policy objectives and specific measures designed to improve the single market for financial services. It focuses on three strategic objectives: a single market for wholesale financial services; open and secure retail markets; state-of-the-art prudential rules and supervision. Documents and publications relevant to financial services in the European union can be found below.
- Retail Financial Services in the Single Market: Green Paper
- Asset management and mortgage green papers
- EU Financial Services Action Plan: a Guide
PDF file of Supervising financial services in an integrated European Single Market: A discussion paper (Jan 2005) (382KB)
As Europe’s financial markets become more integrated, so the question of how to supervise these markets becomes more complex. There is no single or simple way to achieve supervisory convergence: the issues are complex and the solutions are multiple and multi-faceted. This paper sketches out five related challenges that need to be addressed to make progress on achieving convergence of supervisory practice, and offers some proposals for how this can be achieved. Such proposals do not require new EU legislation but rather focus on practical solutions to this complex issue. Taken together, these challenges and proposals present an ambitious framework for action.
Dossiers
Links to all web-pages on forthcoming Commission proposals, legislation under negotiation and legislation in the process of being implemented.
Forthcoming dossiers: Legislation currently under preparation by the European Commission:
Deposit Guarantee Schemes
Basel Capital adequacy rules for financial institutions
Solvency II
Cross- Border Payments
Reinsurance
Dossiers currently under negotiation: Co-decision process ongoing
Completed dossiers: Legislation adopted, either fully implemented or being implemented in the UK
Conglomerates
Market Abuse Directive
Distance Marketing Directive
Insurance Mediation Directive
UCITS Directive
Pensions Directive
Prospectus Directive
Collateral Directive
Transparency Directive
Markets in Financial Instruments Directive
Related links
PDF file Government response to the Treasury Committee´s seventh report for session 2005-2006
This memorandum sets out the Government's response to the House of Commons Treasury Committee's report into European Financial Services Regulation (document HC 778).
Contact
For any details on process and developments, please use contact details below:
Email: European Union Financial Services
Phone: 0207 270 5172
Fax: 0207 270 4322