In the aftermath of the 2009 financial crisis, the European Union adopted a series of reforms to restore financial stability and foster high levels of trust in the financial services sector. In order to ensure the achievement of a single market for financial services, the European Union developed a level playing field for Member States and market participants through the adoption of an European regulatory framework that focuses, among others, on different categories of financial services such as asset management, payment accounts, loans to companies, pensions schemes and insurances. As part of the Union ultimate objective of enhancing consumer protection, the European Commission is now focusing its attention on the enforcement and implementation of this regulatory framework in the Member States.
Key projects in this area include the following:
Framework contract for assistance services in the field of compliance assessment, DG FISMA, 2016-2020: To assess the compliance of the national transposing and implementing measures with the legislation of the EU in the areas of banking and finance, Milieu is reviewing national legislations and checking conformity with a number of financial services directives and regulations including:
- the transparency directive,
- the accounting directive,
- the mortgage credit directive,
- the audit directive,
- the market abuse regulation,
- the whistle blower directive,
- the payment account directive.