-On the ECOFIN meeting on 4-5 March Internal Market Commissioner Frits Bolkestein will set out the Commission’s goals on financial services for the Barcelona European Council and the months to follow.
The proposed Directives on Market Abuse and Insurance Intermediaries, and the proposed Regulation on IAS shall be agreed in a single reading. Bolkestein will tell the Council that speedy progress is also possible on collateral, financial conglomerates and distance marketing.
Forthcoming actions to be undertaken by the Commission are:
a revised proposal on Takeovers,
further consultations on the revision of the Investment Services Directive,
issuing a Communication on Clearing and Settlements,
launching a consultation process on the Regular Reporting requirements.
The Commission is also working on capital adequacy for Europe’s banks and investment firms, in parallel with the work of the Basel Committee on banking supervision. That work will need to take account of the impact on small and medium-sized enterprises, smaller banks and on investment firms.
See full Commission press release
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