Commission and JFSA agreed to deepen their co-operation striving for more open and competitive financial services markets with a view to a co-ordinated response to the crisis and discussed the impact of the crisis in their own system.
Both parties agreed to deepen their co-operation striving for more open and competitive financial services markets with a view to a co-ordinated response to the crisis.
Commission and JFSA officials discussed the impact of the financial crisis in their own system and reviewed their commitments to follow up on the G20 action plan in a co-ordinated way. The meeting also aimed at sharing information on policy developments and exchanging views on selected key areas.
The JFSA briefed the Commission services on the progress on the Better Market Initiative and on recent legislative developments regarding financial services in Japan. The JFSA also presented the implementation of the revised Act on Special Measures for Strengthening Financial Functions.
The Commission services set out the actions taken in view of reinforcing regulation and supervision of financial services. Special attention was given to the Commission's recent legislative proposals, as well as to the follow-up to the de Larosière report and the EU's future regulatory agenda.
Full press release
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