The European Parliamentary Financial Services Forum facilitates and strengthens the exchange of information on financial services and Europe's financial markets between the financial industry and the European Parliament
The European Parliamentary Financial Services Forum facilitates and strengthens the exchange of information on financial services and Europe's financial markets between the financial industry and the European Parliament
 
Market Integration and the Retail Consumer
Introduction

In June 1998, the European Council in Cardiff invited the European Commission to prepare a framework for action to develop the Single Market in financial services. In May 1999, the Commission published a Communication containing the Financial Services Action Plan, which was endorsed by the Lisbon European Council in March 2000. More recently, the Kok report (see note 1 below) commissioned by the European Council published in November 2004, called for the EU to ‘Unleash the dynamism of Financial Markets’. What can Europe’s retail financial services consumers expect?
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Retail ambitions of the Financial Services Action Plan
The retail aims of the FSAP were to create an open and secure retail financial services market which would give retail customers the information and safeguards they need to participate in the single financial market by removing unjustified barriers to providing cross-border retail financial services; by creating the legal conditions for electronic commerce on an EU scale; and by enabling consumers to make small value cross-border payments without excessive charges.

1 December 2004

 

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