Round Table Reports on Benefits of Integrated European Financial Services Market

Washington, DC, April 12, 2002 - A report recently released by the European Financial Services Round Table describes the significant benefits of an integrated European financial services market and makes several policy recommendations toward achieving a single market. Specifically, the Round Table favors:

• achieving a true cross-border market for mutual funds (UCITS) in Europe, and
• ensuring that ordinary mutual funds can be used as funding vehicles in new defined contribution pension systems.

The report, which will be considered by the European Union as it works toward its goal of an integrated financial services market, notes comments and recommendations made by the Institute concerning the European market.