EC reveals five-year regulatory plan

The European Commission has been true to its word and avoided a further programme of reform for financial services. The agenda is not completely free of new reforms, but concentrated in just a few target areas, the focus will be on implementing the previous five year’s measures. IR&A reviews the EC’s policy and highlights what has, and hasn’t, made it to the final cut.

Wholesale financial services firms have been granted a regulatory reprieve in the European Commission’s White Paper setting out its policy for the next five years. The previous five-year strategy for financial services between 1999 and 2004 saw wide-ranging reform for wholesale businesses under the Financial Services Action Plan (FSAP).