Building an EU Securities Market

Examines the legal framework that has been established to support a single EU securities market.

The essays in this book consider some of the fundamental issues concerning the legal framework that has been established to support a single EU securities market. EU policymakers have relied heavily on law reform as a primary building tool. This book examines the wisdom of this strategic policy choice.This book considers some of the fundamental issues concerning the legal framework that has been established to support a single EU securities market. It focuses particularly on how the emerging legal framework will affect issuers' access to the primary and secondary market. The Financial Services Action Plan (FSAP, 1999) was an attempt to equip the community better to meet the challenges of monetary union and to capitalise on the potential benefits of a single market in financial services. It led to extensive change in securities market regulation: new laws; new law making processes, and more attention to the mechanisms for the supervision of securities market activity and legal enforcement. With the FSAP nearing completion, it is a good time to take stock of what has been achieved, and to identify the challenges that lie ahead.