| Author (Corporate) | European Commission: Press and Communication Service |
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| Series Title | Press Release |
| Series Details | IP/03/1352 (7.10.03) |
| Publication Date | 07/10/2003 |
| Content Type | News |
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The European Commission has welcomed the Council's political agreement on the proposed Investment Services Directive. The proposed Directive would increase harmonisation of national rules and give investment firms an effective 'single passport', which would allow them to operate throughout the EU on the basis of authorisation in their home Member State. It would also make sure investors enjoyed a high level of protection when employing investment firms, wherever in Europe they were located. It seeks to establish, for the first time, a comprehensive regulatory framework governing the organised execution of investor transactions by exchanges, other trading systems and investment firms. It is a crucial part of the Financial Services Action Plan. The European Council called for its definitive adoption by April 2004, before the European Parliament elections. Once the Council has formally adopted a Common Position on the basis of the political agreement, the proposal will return to the Parliament for its second reading |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/03/1352&format=HTML&rapid=0&language=EN&guiLanguage=en |
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| Subject Categories | Business and Industry, Internal Markets |
| Countries / Regions | Europe |
