Author : Paul Richards
Publisher :
ISBN 13 :
Total Pages : 14 pages
Book Rating : 4.:/5 (129 download)
Book Synopsis The EU Financial Services Action Plan by : Paul Richards
Download or read book The EU Financial Services Action Plan written by Paul Richards and published by . This book was released on 2005 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Single Market in financial services has long been an EU objective. The integration of financial markets in the EU has progressed much further in wholesale than in retail financial services, with the latter still segmented largely along national lines.The Financial Services Action Plan (FSAP) consists of a set of measures intended by 2005 to fill gaps and remove the remaining barriers to a Single Market in financial services across the EU as a whole.This guide to the FSAP has been prepared by HM Treasury, the Financial Services Authority (FSA) and the Bank of England. The guide is intended to provide an introduction to the FSAP for the UK financial sector, corporate sector and consumer groups, where they are not yet sufficiently familiar with its potential impact, rather than for experts. The guide is being published now, because the FSAP is now in the process of being implemented.The key points for the UK financial sector, corporate sector and consumer groups are as follows:The FSAP is intended to be implemented by 2005, and many measures are due to be implemented before then.The FSAP is important because EU legislation effectively determines UK law in this area.The UK financial sector, corporate sector and consumer groups will all be affected by FSAP measures, as and when they are implemented.The FSAP represents a competitive opportunity, even though some individual FSAP measures have not lived up to expectations, and barriers to a Single Market in financial services cannot all be removed by legislation.The UK authorities are keen to ensure that the UK financial sector, corporate sector and consumer groups are consulted on, and fully understand the impact of, FSAP measures.As new FSAP measures are adopted, the European Commission's priorities are gradually shifting to ensuring that legislation is implemented consistently and promptly at national level and properly enforced.