EU commissioner aims to increase co-operation and reduce cost of regulation
Charlie McCreevy, the European Commissioner for Internal Markets and Services, has cited “dynamic consolidation” as the way to build on the success of the Financial Services Action Plan and create an “open and competitive market place – encouraging innovation, creativity and flexibility”.
Launching “Financial services integration – the Commission’s White Paper” at the European Financial Services Round table today, McCreevy emphasised the need to consolidate legislation over the next four years while avoiding adding new legislation. This will make it possible to transpose various European directives into national law and allow time for home regulators to adapt.
McCreevy acknowledged
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