BRUSSELS, Feb 6: The European Union’s executive unveiled plans on Monday to make it easier for investors to shop around for securities across EU borders and increase competition by banks and brokerages.

The plans aim to create one giant European capital market by bringing investment rules up to date and to spur economic growth across the 25-nation bloc. Internal Market Commissioner Charlie McCreevy said the plans “will provide a high level of protection for investors while keeping red tape to a minimum.”

The rules are to be reviewed by the European Parliament and the European Securities Committee in the coming months and are expected to go into force in November 2007.—AFP