The European Commission has published the 2014 management plan of its Internal Market and Services Directorate General (the DG Market). The plan reports that the DG Market has three main priorities for its work on financial services: the establishment of EU banking union, completing financial reform and improving the way in which the financial system contributes to growth.
In relation to EU banking union, the DG Market states that it will work closely with the European Central Bank on implementing the single supervisory mechanism and that it will contribute to the final agreement on the single resolution mechanism and its swift implementation. On financial reform, the DG Market states that it will follow up the communication on shadow banking with measures to address the need for transparency and data in the shadow banking sector. It also states that a priority for 2014 will be the work on structural reform of the EU banking sector.
The plan also includes detailed information on the expected timings for the adoption of Commission documents, including delegated acts, implementing acts, regulatory and implementing technical standards and reports.
View DG Internal Market and Services Management Plan 2014, 3 February 2014