The Commission issued its Single Market in Financial Services Progress Report 2006 presenting the state of play on the measures currently under discussion.
The report concludes that in 2007 the Commission will drive forward the various initiatives underway to encourage European financial integration:
The White Paper on Mortgage Credit will bring to fruition four years of preparatory work on deciding the best way forward for mortgage regulation in the EU.
The proposed directive on Solvency II will be a landmark measure, bringing a new risk-based approach to the insurance industry, and will bring greater clarity to the existing insurance legislation.
We will move closer to the adoption of
SEPA by 2008 and the considerable economic benefits that it promises to bring.
The implementation of
MiFID and the Code of Conduct on Clearing & Settlement will also be carefully monitored, in order to ensure that Europe's markets maintain their competitive edge.
We will be moving forward to fill the key gaps in ensuring that Europe's companies can fully reap the benefits of the Internal Market, simplifying where possible to make life easier for companies.
Finally, we will be further deepening and broadening our regulatory dialogues with key international partners.
Press release
Report
© Graham Bishop
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