Some types of traders (e.g. banks) already have such obligations under the Markets in Financial Instruments Directive, and they should not have double obligations.

30. Is aware with regards to the negotiation of the EU-Korea FTA about the difficulties that foreign firms face in gaining access to the Korean market for services including banking, insurance, telecommunications, news agencies and legal advice; also urges the Commission, when addressing this issue in the negotiations on the FTA , to take into account the growing concerns in the EU about the crisis-prone effects of a banking and insurance sector whose pace of liberalisation is not accompanied by sound and transparent domestic regulation;

3. By way of derogation from Article 218, where agreements concerning monetary or foreign exchange regime matters need to be negotiated by the Union with one or more third States or international organisations, the Council, on a recommendation from the Commission and after consulting the European Central Bank, shall decide the arrangements for the negotiation and for the conclusion of such agreements.

This Directive should be compatible with the tasks and duties conferred upon the European System of Central Banks (ESCB) and the Member States' central banks by the Treaty and the Statute of the European System of Central Banks and of the European Central Bank; particular attention in this regard needs to be given to the Member States' central banks whose shares are currently admitted to trading on a regulated market, in order to guarantee the pursuit of primary Community law objectives.

(4) This Directive should ensure its compatibility with the tasks and duties conferred upon the ESCB and the Member States' central banks by the Treaty and the Statute of the ESCB; particular attention in this regard needs to be given to the Member States' central banks whose shares are presently admitted to trading on a regulated market, in order to guarantee the pursuit of primary Community law objectives.

– (DE) Mr President, the negotiations on the directive on investment services and regulated markets have once again shown how difficult it is to bring together the different European market philosophies and traditions, in particular the continental model of stock exchanges, which have in the meantime lost their public-private character to a large extent and have been privatised, and the investment banks’ new internal trading systems.