Exploring Corporate Governance Around the World

By Allison Garrett, Senior Vice President for Academic Affairs at Oklahoma Christian University

Friday, February 10, 2006

McCreevy Speech Regarding EU Capital Market Objectives

Charlie McCreevy, EU Commissioner for Internal Market and Services, gave a speech this week at the US Chamber of Commerce. He noted that the Euro bond market is functioning well, that IPOs are strong, and that companies have a wide range of financing options in the EU.

To develop a strong transatlantic capital maarket between the US and the EU, the EU's 4 objectives are:
1. Eliminating requirements that US GAAP and IFRS be reconciled;
2. Simplying deregistration of foreign issuers;
3. Implementing the Basel Accord by 2008; and
4. Adopting up-to-date rules regarding reinsurance.

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