Press Release: European Commission launches broad strategy to prevent financial and corporate malpractice

The European Commission has adopted a strategy for co-ordinated action in the financial services, company law, accounting, tax, supervision and enforcement areas, to reduce the risk of financial malpractice on 30 September 2004. The Commission's Communication recommends timely and effective implementation of the Financial Services Action Plan and the Action Plan for Company Law and Corporate Governance which provide an effective EU framework for dealing with most of the financial issues raised by the recent scandals, as well as strict control of the application of legislation. The Commission suggests new policy initiatives in tax and law enforcement. The key elements are: enhanced transparency, improved traceability and better co-ordinated enforcement.

European Commission: DG Internal Market: Financial Reporting and Company Law: Financial Crime http://ec.europa.eu/comm/internal_market/en/company/financialcrime/index.htm

http://ec.europa.eu/comm/internal_market/company/financial-crime/index_en.htm http://ec.europa.eu/comm/internal_market/company/financial-crime/index_en.htm

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