Objectives of the financial services action plan

Disgrace at the heart of Europe

Disgrace at the heart of Europe

General: wider conditions for an optimal single financial market

Top priorities: adopt a directive on savings tax; implementation of the December 1997 code of conduct on business taxation

Strategic: a single EU wholesale market

Top priorities: upgrade the directives on prospectuses through a possible legislative amendment; commission communication on distinction between “sophisticated” investors and retail investors; commission communication updating the EU accounting strategy; implementation of settlement Wnality directive; directive on cross-border use of collateral; political agreement on proposed directive on takeover bids; political agreement on the European company statute; commission communication on funded pension schemes; political agreement on proposed directives on UCITS (undertakings for collective investments in transferable securities – unit trusts); directive on the prudential supervision of pension funds

Open and secure retail markets

Top priorities: political agreement on proposal for a directive on the distance selling of Wnancial services; recommendation to support best practice for information provision...

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