Investment services directive
Investment services directive: ISD. A European Community directive aimed at improving the right of establishment and freedom to provide services in the securities sector. It entered into force on 1 January 1996. Under the terms of this directive, investment firms are allowed to operate anywhere within the European Community once they have obtained authorization in their home member state. The activities authorized by the home country may be carried out through establishment in another member country or through cross-border trade. No additional authorization, endowment capital or any other measure having an equivalent effect may be requested. See also financial services.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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