The main aspects of financial regulators organization. EU experience

Abstract

This article is dedicated to analysis of modern trends of the EU financial service integration processes development. The most important stages of financial integration legal framework development in the EU are considered chronologically. The article contains deep research of financial integration institutional basis transformation, greatly strengthened in the result of global financial crisis of 2008, which entailed the improvement of financial regulators.. The author raises some of the problems of financial and economic regulation and accentuates, that the EU is consistently improving its mechanism of financial services regulation each time becoming more efficient. Next stage of the reform will start in 2013, when important legislative initiatives in the EU financial sector shall be implemented.

Keywords

• the european union
• the financial services action plan (1999)
• the eu policy paper – financial services policy (2005–2010)
• the lamfalussy process
• the larosière process
• the eu financial sector