Memo: Financial Services Policy Group discusses progress on the implementation of an integrated financial market

The ninth meeting of the Financial Service Policy Group, comprising personal representatives of Finance Ministers, took place on 22 February 2001 in Brussels under the chairmanship of Internal Market Commissioner Frits Bolkestein. The FSPG meets regularly to forge consensus between national ministries involved in financial services regulation and to review progress on the implementation of the Financial Services Action Plan (FSAP). The Plan was endorsed by the Cologne European Council in June 1999 and at the Extraordinary Lisbon European Council in March it was agreed to complete it by 2005. The Group concentrated discussion on 2 points: (i) the need to make rapid progress on the issue of e-commerce in financial services, and (ii) the findings of the Group of Wise Men on the Regulation of European Securities Markets.