Press Release: Financial services: Commission launches call for evidence on review of Investor Compensation Schemes Directive

The European Commission launched a call for evidence on the review of the application of the Investor Compensation Schemes Directive (Directive 1997/9/EC). This Directive aims to protect investors against the risk of losses in the event of an investment firm's inability to repay money or return assets held on behalf of their clients. The Commission wished to gather information about the application of the Directive. All interested stakeholders, in particular businesses, investors and consumers, and public authorities were invited to participate. This call for evidence was also in line with parallel initiatives concerning the Deposit Guarantee Schemes Directive and insurance guarantee schemes. The closing date for reply was 10 March 2009.