Acquisitions and increase of holdings in the financial sector Published on: 06/01/2012
- Deadline: 10/02/2012
The Commission has to review the application of Directive 2007/44/EC as regards acquisations and increase of holdings in the financial sector.
The aim of the directive was to ensure that supervisory authorities are as specific and transparent as possible if they have doubts about the sound and prudent management of the financial institution concerned, and to minimise the scope for public authorities to invoke prudential rules in order to hinder cross-border mergers and acquisitions for protectionist reasons.
According to Article 6 of the Directive, the Commission has to review the application of the Directive and submit a report to the European Parliament and the Council, together with any appropriate proposals to review the Directive. The responses to this consultation will provide useful information on how the Directive was applied in the EU Member States and will help the Commission to prepare the report on the application of the Directive.