Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-10-04-Speech-4-112"
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"en.20011004.3.4-112"2
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".
In spring last year, together with the Council, we adopted the Electronic Commerce Directive which is due to come into force on 17 January 2002. The pillar of this Directive is the country of origin approach. When the report before us was discussed in the Committee on Economic and Monetary Affairs for the first time, I was surprised to find that some members of the relevant Committee wanted to call this country of origin approach into question again for online financial services. Yet this is quite absurd. If the European Parliament and the Lisbon European Council have set a deadline of 2005 for establishing an integrated market in financial services, we cannot afford to adopt incoherent legislation or keep re-examining decisions which have already been taken, unless we have very good reason to do so. This applies not only to some Members of this House but also to the Council, whose vote last Thursday on the Directive on Distance Marketing of Financial Services I greatly regret. We opted for the country of origin approach – so we should now apply it in a targeted and coherent fashion.
I would also like to join the rapporteur in congratulating the Commission on its initiative in establishing the European Extrajudicial Network (EEJ-NET) and the Financial Services Complaints Network (FIN-NET). Simple, cost-effective, non-judicial procedures for cross-border redress can only enhance consumer confidence in the development of cross-border financial services. Naturally, consumers must be made aware of the existence of these networks, and I therefore also support the proposal that all websites providing online financial services should advertise these networks."@en1
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