06 March 2002

UNICE calls to speed up FSAP implementation process

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UNICE claims insufficient dynamism in pushing legislation through the Council. There is a substantial danger that the targets for implementation will be missed due to a lack of political determination.

Of the 42 original measures, some 25 have been completed; but only 9 of these completed measures are legislative acts. In contrast, almost all of the 17 outstanding measures are legislative acts.

The Commission’s objective of adopting 10 legislative acts in 2002 will be necessary to meet the FSAP target dates – it will also be a highly challenging work program.

UNICE suggest that six proposals be accorded priority:

Directive on Occupational Retirement Provision (including measures on the elimination of tax obstacles to the crossborder provision of occupational pensions)

Regulation on International Accounting Standards

Prospectuses Directive

Directive on International Financial Collateral arrangements

E-commerce and Financial Services

Market Abuse Directive

See full paper

© UNICE