Financial Services and the Application of Competition Policy

The purpose of this briefing is to survey the role of EU competition policy in the financial services industries. The presentation is based on the application of the three main instruments of EU competition policy: antitrust, merger and State aid policy for banks, insurance companies and investment firms. The legislative programme to achieve a single market in Financial Services by the end of 2005, the Financial Services Action Plan, and competition policy go hand in hand. The application of EU competition rules in this sector has become a priority.