In a speech on the 8th European Financial Markets Convention organized by
FESE and the Deutsche Börse in Frankfurt, German Finance Minister Hans Eichel pointed out the five top priorities for the post FSAP process.
For Germany, the Finance Minister mentioned five top priorities, as there are:
full and consistent implementation within narrow time limits and effective enforcement by the Member States must have top priority.
convergence of supervisory practice to create level playing fields and reduce regulatory burden and cost in the field of supervisory arrangements.
further integration based on systemic analysis of remaining obstacles and prioritising areas for intervention.
several horizontal issues should be taken fully into account, notably financial stability, corporate governance, market integrity and the global characteristics of financial services.
numerous related specific areas, notably clearing and settlement, improving the legal framework for retail payments, reducing the obstacles to electronic financial services, the UCITS directive and the integration of upstream market functions.
The Minister also added that consumer protection, private law, competition policy and taxation are generally considered to be key areas for improving financial services.
Full speech
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