EP resolution on Clearing and Settlements

15 January 2003

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European Parliament adopted a resolution of Generoso Andria, approving the Commission's aim to reduce costs and improve efficiency with regard to the cross-border purchase and sale of shares. MEPs want to do this through the revision of existing Investment Services legislation laying down common rules for authorisation, supervision and right of access for investment companies across the EU.

The European Parliament is now pushing for a new dedicated Directive to regulate clearance and settlement transactions. The Commission argues that the ISD would not be the best place to include such rules.

EP resolution

© European Parliament