A comprehensive timeline for delivery of proposals to complete the EU's financial reform was presented in June 2010. Early in 2011, the Commission will table the remaining proposals to complete the financial sector reform.
A particular focus will be the protection of small investors and ordinary consumers: initiatives will include legislation on access to basic banking services, and action to promote responsible lending and borrowing practice on mortgages.
These and other proposals will complete the Commission’s ambitious reform programme for the financial sector. A joint goal of the European institutions should be to have the full reform agreed by the end of 2011, thus putting in place an advanced system of financial regulation as one of the foundation stones for healthy, job-creating growth. Meanwhile, the EU will continue its efforts to promote a strong and coordinated global approach, notably through its active participation in the G20. The Commission will pursue its work on a fair contribution of the financial sector.
As in 2010, the Commission work programme is accompanied by four annexes:
· a list of 40 strategic initiatives which the Commission commits to deliver in 2011 (Annex I)
· a list of 89 other possible initiatives under preparation until the end of the mandate (Annex II)
· a list of simplification proposals and withdrawals (Annexes III and IV)
The Commission will now work closely with the European Parliament and the Council, as well as stakeholders, including national parliaments to ensure a broad ownership on the overall approach as well as on individual initiatives.
© European Commission
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