On September 21, the European Commission published in its Official Journal the text of a directive on procedural rules and evaluation criteria for the prudential assessment of acquisitions and the increase of holdings in the financial sector. The directive seeks to improve the current EU legal framework of the supervisory approval process for mergers and acquisitions in the financial services sectors.

 http://eur-lex.europa.eu/LexUriServ/site/en/oj/2007/l_247/l_24720070921en00010016.pdf