SPAIN ECJ
December 1st, 2003
BY ALAN OSBORNTHE EUROPEAN Commission has threatened legal action against Spain over the transfer of insurance portfolios in that country, which Brussels says are in violation of European Union's (EU) insurance directives and the principle of free movement of services. The Commission has sent Spain a "reasoned opinion" asking for changes. Failing a satisfactory reply within two months, Brussels says it may bring the country before the European Court of Justice. At present in Spain, if there is a transfer of policies by one insurance company to another because of ...
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