-The Greek Presidency will work to advance as far as possible the approval of the legislative proposals on which political agreement was reached during the Danish Presidency. The agreement concerns to the:
Prospectus Directive, which will contribute to the lowering of capital costs for undertakings and will make it easier to invest across borders within the E.U.
Occupational Pension Funds Directive, which will guarantee the freedom to provide pension fund investment management and custody services in the EU.
The Greek Presidency will also work to advance, as far as possible, the new legislative proposals that the Commission has recently presented:
Investment Services Directive, which is an important step in further integrating the European financial markets. The Directive will advance decisively the integration of capital markets in a truly pan European context while enhancing transparency and investment protection.
Regular Reporting Directive. New proposal expected to be presented by the Commission soon.
Directive on take-over bids, which aims to promote business efficiency in the Union.
Financial Supervision and Regulation
In order to achieve an efficient market for financial services in the Union, it is important to enhance co-operation on supervision and regulation. The Greek Presidency will give priority to the work of improving the structures for the regulation and supervision of financial markets. The work of the Commission and Council seeks to develop a new framework, which contributes to a more efficient and transparent functioning of the European financial markets.
Corporate Governance
In view of the recent events in the USA, with the collapse of Enron and WorldCom, better and more transparent Corporate Governance is a prerequisite for the improvement of confidence in the financial markets. The Greek Presidency will work to advance, as far as possible, the Commission’s action plan on this matter. The Commission is expected to present a framework of proposals following the written report of corporate governance.
Ecofin work programme
© Council of the European Union
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article