EuroFinUse has provided Mr Philippe Maystadt with the views of retail investors on accounting standards, the principles they should contain and the need to count with international account standards that protect the interests of investors.

EuroFinUse considers the establishment of the International Financial Reporting Standards (IFRS) a milestone in the promotion of harmonised accounting standards not only in Europe but also, ideally, for the United States.

We believe that the initiated consultation with a wide range of stakeholders by the Commission with regards to this Action Plan is a major step in this process. In our response we focused on those specific points which in our opinion have not been accounted for: the lack of response to the problems of cross-border

EuroFinuse agrees with the general recommendation of the Expert Group on the necessity of legal separation between risky financial activities from deposit-taking activities within a banking group. We agree as well that this separation should be aimed at protecting their socially most vital parts, which indeed are deposit-taking and those related to the provision of