Meanwhile the global regulatory agenda is evolving and there are different approaches to the review of post crisis rules key messages the adoption over 18 years ago of the lamfalussy process for eu legislation with its four distinct levels is the cornerstone that is meant to underpin the eus approach to financial services regulation. Insights eu financial services regulation this paper looks at how the financial services industry will be impacted by the regulatory agenda set by the incoming commission president climate change the digital society and capital markets union feature prominently along with the perennials of financial stability and consumer protection. This book outlines the financial services regulatory framework in 42 countries in europe contributors from leading commercial law firms across the region provide a clear explanation of the relevant regulatory bodies and their powers with consideration of the effects of each jurisdictions national legislation this title is supported by two companion volumes covering asia pacific and the . A specific regulatory process for financial services was introduced with the lamfalussy report and then upgraded after the financial crisis expert groups comitology and other committees list of expert groups comitology committees and other consultative bodies assisting the commission on financial services regulation. The legal basis for directives and regulations dealing with financial services are provided by articles 49 freedom of establishment 56 freedom to provide services 63 free movement of capital and 114 approximation of laws for the establishment and functioning of the internal market of the treaty on the functioning of the european union