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Brussels, 15th February 2001

Commissioner Bolkestein welcomes final report from Wise Men on Securities Markets Regulation

Internal Market Commissioner Frits Bolkestein has welcomed the Final Report from the Committee of Wise Men chaired by Alexandre Lamfalussy on the Regulation of European Securities Markets. Mr Bolkestein said "This report constitutes an essential contribution to necessary reform of the regulatory framework for European financial markets. Community legislation must respond rapidly and flexibly to developments in financial markets in order to achieve greater market integration and improved competitiveness. I congratulate the Group of Wise Men chaired by Mr Lamfalussy on the quality of their work, and I am very grateful. Their report contains, while respecting the institutional balance, precise and innovative recommendations which EU institutions and industry should consider adopting as quickly as possible. These recommendations open the way to more open, secure and efficient European financial markets.

The full text of the report will be available for downloading from the Europa Internet site: (click on What's New).

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