Regulatory Review 2004 Part II

Part two of George Walker’s review of the most important regulatory developments in the banking and financial area during 2004.

G A Walker, Centre for Commercial Law Studies

Europe

Within Europe, regulatory efforts have focused on attempting to complete the Financial Services Action Plan (FSAP) before its end 2005 deadline. With the FSAP, the European Commission has been trying to complete the construction of an internal market in banking and financial services across Europe based on the legally enforceable rights of cross-border market access and agreed common minimum regulatory standards given effect to on a mutual recognition basis.