The euro and European financial markets The creation of the single currency is one step in the integration process in Europe, which started with the establishment of the European Economic Community in the 1950s. The integration among the Member States gained further momentum with the completion of the single European market in 1992.
•  Soon after, leading investment banks such as Morgan Stanley and Goldman Sachs converted themselves into bank holding companies. Investment banking in India: current regulatory framework •  The term investment bank is not legally defined in India, and no entities are registered as such with SEBI.