The EBF released its response on the second IIMG interim report noting that there is room for improvement for the Lamfalussy process. EBF concludes that the distinction between the functions and purpose of the respective Level 2 and 3 Committees could be better drawn and then adhered to. Also, the time constraints are a major bottleneck in the Lamfalussy process.
The EBF also strongly supports the IIMG in respect of its conclusions on the functioning of the Level 3 Committees, on timing and on gold plating.
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© Graham Bishop
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