European and national legislation of financial services:
Situation of European and national legislation of financial services, summary of the main international and national problems with legislation affecting consumers.

The Financial Services Action Plan (FSAP), adopted by the European Commission on 11th May 1999, is the main document that states the necessary measures to achieve the integration of European financial markets. When a legislative process is started, the whole process develops in an unsuitable way for those more affected.

The legislative framework resulting from the Financial Services Action Plan should reflect the balance created from the participation of the different sectors in the legislative process, and in order to this, consumers are a key element.