EU

Proposals to revise the ISD: Practical implications for firms

Simon Firth, partner, James Greig, partner and Alix Prentice, associate, Financial Services Group, Wilmer, Cutler & Pickering, London

European Union (EU) proposals to revise the Investment Services Directive of 1993 (ISD) form a ‘corner’ of its broader Financial Services Action Plan (FSAP), which was adopted in May 1999. The FSAP aims to provide a fully integrated pan-EU securities and derivatives market by implementing four large-scale aims: