Assessing Home Country Control and Mutual Recognition

Yannis V. Avgerinos

Chapter 5 in Regulating and Supervising Investment Services in the European Union, 2003, pp 102-142 from Palgrave Macmillan

Abstract: Abstract This chapter assesses and critically analyses the principles of home country control and mutual recognition, their position in the context of EU legislation and their effectiveness, efficiency and contribution in the provision and supervision of investment services. Does home Member State supervision of investment firms and mutual recognition of services have negative consequences for the efficient and truly free provision of financial services, as envisaged in the EC Treaty? The answer to this question will assist this book in defining the need for alternative solutions and institutional reforms. Indeed, the first criterion, by way of which the Commission justifies action at EU level, is that the absence of that action might have negative consequences for the effectiveness of instruments envisaged by the Member States and/or be contrary to the requirements of the Treaty.1

Keywords: Host Country; Financial Service; Competent Authority; Mutual Recognition; Financial Firm (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28687-0_6

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DOI: 10.1057/9780230286870_6

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