Investment Services Directive

HC Deb 05 June 2000 vol 351 cc72-3W

Mr. Mitchell

To ask the Chancellor of the Exchequer, pursuant to his answer of 11 May 2000,Official Report, column 477W, on an investment services directive, for what reason (a) it is proposed to upgrade the current directive and (b) a Green Paper is considered necessary. [123895]

Miss Melanie Johnson

This is a matter for the European Commission. The European Commission's Communication "Implementing the Framework for Financial Markets: Action Plan" (COM(1999)232) proposes a Commission Green Paper to review the Investment Services Directive as a basis for an efficient market for investment services.