30 January 2008

Speech McCreevy: Opportunities and challenges of the internationalisation of financial markets

Speaking on the 6th Annual European Financial Services Conference in Brussels, Commissioner McCreevy outlined the role of European legislation as a standard setter worldwide, and the regulatory dialogues under way with the US, Japan, China, Russia and India to promote the EU’s regulatory approach.

With regard to the current financial turmoil he said that the Commission is working with national regulators and supervisors, the ECB and stakeholders on improvements to transparency, valuation standards of complex instruments, and the functioning of markets, including credit rating agencies. “This work will come to fruition throughout 2008”, he said.

Full speech

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