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A series of measures have been outlined in the Financial Services Action Plan to ensure an integrated financial market. The FSAP was endorsed by the Cologne European Council in June 1999 and the Lisbon European Council in March 2000 set the deadline of 2005 for its implementation. The Stockholm European Council strongly reaffirmed the importance of implementing the Action Plan by 2005 and set a new deadline of 2003 for the full integration of the European Securities markets.

The Action Plan suggested indicative priorities and time-scales for legislative and other measures to tackle three strategic objectives, namely ensuring a Single Market for wholesale financial services, open and secure retail markets and state-of-the-art prudential rules and supervision.

The main strategic objective of the FSAP is to enhance the functioning of underperforming pan-European financial markets and, by so doing, improve the prospects for sustainable, investment-driven growth and employment.

This timeline covers the main general events towards the creation of a single financial market up to 2004.

Financial Services Action Plan





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2002 Financial Services Action Plan - archive
2002-12-06 FEFSI: Trends in the European Investment Fund Industry
2002-12-03 EPFSF: Taxation on Financial Services in the EU
2002-12-03 Results of ECOFIN Council 03 December - Documents
2002-12-02 FSAP Seventh Progress Report
2002-11-28 First meeting of new experts group of financial analysts
2002-11-26 Eurofi Preliminary Report on an Integrated European Financial Market
2002-11-26 New study on growth impact of financial markets integration
2002-11-21 EP Report on prudential supervision rules in the European Union
2002-11-18 FBE: Position Paper on EFC Report on Financial Regulation, Supervision and Stability
2002-11-16 The European Single Financial Market: A Permanent Construction Site?
2002-11-12 EU study: Benefits of Financial Services Integration
2002-11-08 Speech: Harmonisation and Integration - Regulation of EU Cross-border Financial Integration
2002-11-06 Results of ECOFIN Council 4-5 November
2002-11-05 EMAC meeting 04-05 November
2002-10-25 FESE: Securities exchanges and European Union legislation: a regulatory or a business battle?
2002-10-16 Commission progress report on Risk Capital Action Plan
2002-10-14 IAIS: New Principles for Reinsurance Supervision
2002-10-14 Consultations on improving banking, insurance and conglomerates legislation
2002-10-10 ICAEW Conference on Single A Single Capital Market in Europe
2002-10-08 Duisenberg speech on the integration of Europe's financial markets
2002-10-08 EMAC meeting 07-08 October
2002-10-07 Lamfalussy Monitoring Group started operating
2002-10-03 EMAC meeting 01-02 October
2002-09-17 ECB: Solans speech on financial integration, stability, and supervision
2002-09-16 ECB hosts consultation on integration of short-term securities markets
2002-09-12 Exchange of views with Commissioner Bolkestein in EMAC Committee
2002-09-09 ECOFIN meeting 6-7 September - Taxation of Savings
2002-08-30 ESBG opposes Establishment of Single European Supervisory Authority
2002-07-12 Report of ECOFIN meeting 12 July
2002-07-11 Pedersen presented Priorities of Danish Presidency
2002-06-27 FSAP Forum: Work Program of the Danish Presidency
2002-06-22 Results of the Seville Summit
2002-06-21 ECOFIN approves Broad Economic Policy Guidelines
2002-06-12 Preparations on Seville Summit
2002-06-12 IMF: Global Financial Stability Report
2002-06-06 Commission – call for papers: The internationalisation of ownership of assets in the EU. Causes and Consequences
2002-06-04 Results of ECOFIN Meeting 4 June 2002
2002-06-03 Commission Report: The efficiency defence and the European system of merger control
2002-06-03 Bolkestein speech before EMAC on forthcoming FSAP issues
2002-06-03 FSAP: Sixth Progress Report
2002-06-03 EFC Report on EU financial integration
2002-06-02 Agenda of ECOFIN Meeting 4 June
2002-06-01 FEFSI: Trends in the European Investment Fund Industry, 1st quarter 2002.
2002-05-28 European Parliament launches Advisory Panel of Financial Services Experts
2002-05-23 IHT: Babel of rules keeps offshore sites in fashion
2002-05-16 Weber Shandwick | Adamson's presents Danish Presidency Guide
2002-05-08 Results of ECOFIN meeting 6-7 May
2002-05-03 Agenda of ECOFIN Meeting 7 May
2002-04-24 EMAC established advisory panel on financial services
2002-04-15 Results of informal ECOFIN meeting Oviedo 12-14 April
2002-04-09 Agenda of informal ECOFIN meeting – Oviedo APRIL 12-14
2002-04-09 Huhne Speech on EU Financial Markets
2002-03-30 CEPS Comment: A new era in financial services regulation?
2002-03-26 FBE report on Money Laundering: Who does What?
2002-03-23 IMF: Global Financial Stability Report
2002-03-19 Bolkestein speech on FSAP timelines before EMAC
2002-03-14 EP adopted Key Directives
2002-03-14 Commission welcomes votes in EP on Financial Services Action Plan
2002-03-13 FT: Getting regulation right
2002-03-07 Bolkestein concerned about pace of delivery of FSAP
2002-03-06 UNICE calls to speed up FSAP implementation process
2002-03-05 Results of ECOFIN meeting
2002-03-05 Forthcoming plenary votes on Key Directives
2002-03-04 Preparation of ECOFIN, 4-5 March
2002-03-03 FEFSI results on European investment funds industry
2002-02-25 EFR: Strong Economic Case for completing Single European Market in Financial Services
2002-02-25 IMF: Krueger speech on 'Banking on the Euro: Leap of Faith or Act of Folly?'
2002-02-22 FSAP Mid-Term Review: Results
2002-02-20 IOSCO: Objectives and Principles of Securities Regulation
2002-02-19 FSAP Mid-Term Review: Leading Players to assess Progress on FSAP
2002-02-12 Results of ECOFIN Meeting - Taxation
2002-02-12 UK minister urges pension reform across Europe
2002-02-06 FT: EU Fast Track Financial Law approval shows commitment to reform
2002-02-05 Prodi Declaration on Lamfalussy
2002-02-04 European Company Statute remains unchanged
2002-01-31 FT: What goes around: Banks may not succeed to shield from bad debt.
2002-01-31 Dispute over EU Financial Reform Plans resolved
2002-01-25 Bolkestein claims lack of progress on internal market reform
2002-01-23 Results of ECOFIN – tax and financial services
2002-01-21 Legal Affairs Committee wants Parliament to challenge Council's Decision on the SE before the Court
2002-01-18 FT: New EU Parliamentary President promises Partnership for Reform
2002-01-16 US supports reform of financial services in Europe
2002-01-15 Commission Communication on Barcelona
2002-01-14 FAZ: calling for a European FSA
2002-01-11 UNICE: Business urges EU to stick with economic promises
2002-01-10 FT: Rato faces Tough Task on EU Reforms
2002-01-01 Spanish Presidency gives priority to Financial Services Action Plan

Prior Years Reports