Epilogue

Abstract

The need for a significant institutional reform of investment services supervision and regulation at the European Union level has been the central theme of this book. Problems associated with the principles of home country control and mutual recognition call for a new wave of fresh thinking and dynamic response. Today, the idea and proposal of establishing and developing a central pan-European Securities Regulator not only seems less and less remote, but also necessary for the better promotion of the objectives of financial stability, consumer protection and competition between financial intermediaries. The time has come for these thoughts and ideas to be voiced.