Financial services: general framework
The integration of financial markets means that capital can be allocated more efficiently and makes for better long term economic performance. The European Union has established a legislative framework geared to strengthening the financial services sector, in particular in order to improve the performance of financial operators and boost liquidity, competition and financial stability.
European policy on financial services shares some concerns with that on the free movement of capital when it comes to facilitating, and improving the security of, financial activity. Such issues stem in particular from the cross border character of this activity, but also from the massive growth in services based on new technologies.
Financial services policy covers three main sectors: the banking system, insurance and securities. Apart from laying down rules for operators and investors (banks, insurance and securities), the Union also intends to give greater protection to consumers in specific areas such as retail financial services.
-
General provisions
- Taxe sur les transactions financières (FR)
- Taxation of the financial sector
- Framework for crisis management in the financial sector
- Community programme to support financial services, financial reporting and auditing (2010-2013)
- Reforming the financial system
- Framework for actionArchives
- Financial Services Action Plan (FSAP)Archives
- White Paper on Financial Services Policy (2005-2010)Archives
- Markets in financial instruments (MiFID) and investment services
- Review of the Lamfalussy processArchives
- International accounting standards (IAS)
- Agreement on the European Economic Area
-
Specific provisions
- Derivatives
- Packaged retail investment products
- Investment research and financial analysts
- World Trade Organisation
- Corporate and financial malpracticeArchives
- Retail financial services explained to consumersArchives
- Financial education
- The prevention of and fight against organised crime in the financial sector
- Distance contracts for financial services
- Financial conglomerates
- Institutions for occupational retirement provision
- Remuneration policies
-
Financial supervision
- European Systemic Risk Board
- European Banking Authority (EBA)
- European Insurance and Occupational Pensions Authority (EIOPA)
- Autorité européenne des valeurs mobilières (AEVM) (FR)
- European financial supervision