The Action Plan stresses the need to draw up a Directive upgrading transparency requirements .

of the Directive .

of the Directive ..

Any references to the repealed Directive shall be construed as references to this Directive .

The 1991 Directive followed closely the recommendations of the Financial Action Task Force on Money Laundering ( FATF ) , the world standard in this area .

A directive amending the current Directive is the most appropriate instrument .

The option of abolishing this obligation would undermine consumer confidence because it would be contrary to the main objective of the Prospectus Directive to provide investors with information necessary to enable them to make an informed investment decision ( Article 5 of the Prospectus Directive ) .

HAVE ADOPTED THIS DIRECTIVE

HAVE ADOPTED THIS DIRECTIVE

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ECB Opinion on amendments to the Banking Directive and the Capital Adequacy Directive

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As this would entail substantial changes to Directive 2009 50 EC, that Directive should therefore be repealed and replaced by a new Directive.

The paramount need now is not military action, not diplomatic action but humanitarian action for these refugees.

The 1991 Directive took particular account of the Forty Recommendations of the Financial Action Task Force on Money Laundering ( FATF ) , the international body leading the global effort in this field .

The proposal for a new directive does not foresee this either.

Assessment of Directive s application

Assessment of the proposal for a directive

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So at this stage the Commission's view is that there are no longer any grounds for this proposal and it impairs the text.

As this proposal amends an existing Directive, an amending Directive is the appropriate instrument.

Major measures in this respect included the Markets in Financial Instruments Directive ( MiFID ) , the Transparency Directive , the Market Abuse Directive , and the Prospectus Directive 12 . Building on the achievements under the FSAP , in December 2005 the Commission adopted a White Paper on EU financial services policy for the years 2005 10 .

As this directive will modify the Framework Directive on type approval, it would be preferable to indicate clearly that the reference is to the Framework Directive on type approval 70 156 EEC, as modified by Directive XXXX XX CE .

As this directive will modify the Framework Directive on type approval, it would be preferable to indicate clearly that the reference is to the Framework Directive on type approval 70 756 EEC, as modified by Directive XXXX XX CE .

At EU level, this requirement is adequately covered by the Professional Qualifications Directive2 and by specific regulations such as the Establishment Directive and Services Directive for lawyers3 or the Statutory Audit Directive4.

Assessing the application of the Postal Directive