Financial services are an essential part of the EU’s efforts to complete the internal market, as regards the free movement of services and capital. Financial services regulation contributes to an environment that protects consumers, promotes market integrity and supports investment and growth.
To ensure that unnecessary costs are removed and rules are as effective and efficient as possible, since 2015 under REFIT, 10 initiatives have been adopted and 9 are pending adoption. Moreover, 9 evaluations have been finalised and 1 is ongoing.
|1. Supervisory Reporting Requirements in Financial Services Legislation|
|2. European market infrastructure Regulation (EMIR)|
|3. Prudential treatment of investment firms|
|4. Financial conglomerates Directive (FICOD)|
|5. Motor insurance Directive|
|6. European Long Term Investment Funds (ELTIF)|
|7. Insurance distribution|
|8. Review of the European Venture Capital (EuVECA) and European Social Entrepreneurship (EuSEF) Fund regulations|
|9. Prospectus Directive|
|10. International accounting standards (IAS)|
|11. Regulation on cross-border payments|
|12. Public reporting by companies|
|13. Capital Markets Recovery Package|
|14. Banking Union: Review of the bank crisis|