Regulatory Review 2003

Part Two of George Walker’s review of the main events that took place during the last regulatory year and what is in store for 2004.

Dr George Walker, Solicitor and Senior Lecturer in Law, Centre for Commercial Law Studies, London

Europe

A number of initiatives were taken forward at the European level to attempt to ensure compliance with the end of 2005 deadline for the adoption of all of the major measures announced under the Financial Services Action Plan (FSAP).A number of significant successes have been realised, although further work remains to be carried out in certain key areas, including on the Market Abuse Directive, the Prospectus Directive and the Investment Services Directive. Even though the deadline is 2005, a substantial amount of work must now be completed during the early part of 2004 in advance of the European Parliament elections and EU enlargement process.