allowed control point

approved standard

approved standard

approved standard

approved standards and guides

approved standard

Not surprisingly, the only countries with approved regional standards at present are those countries whose governments contributed both in the content and in the cost of developing those regional standards.

to commit TiSA parties to the implementation and application of international standards for the regulation and supervision of the financial sector, such as those endorsed by the G20, the Basel Committee on Banking Supervision, the Financial Stability Board, the International Organisation of Securities Commissions and the International Association of Insurance Supervisors; to take action to ensure that the key elements of the WTO Understanding on Financial Services are taken over in TiSA, while improving the drafting of the Understanding to bring it into line with the exact current policy lines of the EU in these areas; to ensure that T ...[+++]iSA helps mitigate double taxation and in no way facilitates or opens loopholes for tax fraud, tax evasion, aggressive tax planning or money-laundering; to pursue in-depth commitments, in particular on market access, from countries that currently have no bilateral trade deals with the EU, such as Australia, New Zealand, Hong Kong and Taiwan, very limited commitments at WTO level, such as Chile and Turkey, or very limited bilateral commitments on financial services, such as Mexico;

S. whereas the technology is ready, and common EU-wide standards have been agreed on and are being refined and tested by industry actors and public authorities in the framework of pilot projects;

6. Points to the overriding importance of safeguarding the stability of financial markets and reassuring consumers in the light of the current financial crisis; notes that the current crisis shows the need for the European Union to develop oversight measures in order to increase investor transparency, establish better valuation standards, improve prudential supervision, and rate the role of rating agencies; asks the Commission to work in full partnership with Parliament when developing the roadmap agreed by the ECOFIN Council in December 2007 in order to improve the Lamfalussy process, financial services legislation, and the transposit ...[+++]ion and implementation process; considers that the announced targeted review of Directive 2006/48/EC relating to the taking up and pursuit of the business of credit institutions and Directive 2006/49/EC on the capital adequacy of investment firms and credit institutions should improve the prudential framework and risk management of financial institutions, thus increasing confidence between market players; reaffirms the crucial importance of having better, single, representation of the EU in international financial institutions and regrets the absence of a proposal to that effect;