-The European Parliament’s Committee on Economic and Monetary Affairs is to establish a panel of financial services experts to advise it on the package of measures outlined in the Financial Services Action Plan and the Lamfalussy report.
The panel, to be composed of 10 independent experts, will operate in a similar manner to the existing panel of monetary policy experts, and will advise EMAC members on financial services proposals and implementing measures, notably in the context of the Financial Services Action Plan and the Lamfalussy report.
“This panel will help us to ensure that European legislation in the field of financial services is adapted to the needs of all market participants and faces up to the challenges of this key industry” said Christa Randzio-Plath, Chairperson of EMAC. “The briefings provided by the experts will serve to help parliamentarians to judge whether the objectives of the European Commission are successfully achieved by their upcoming proposals, and whether implementing measures proposed by the Commission are in accordance with the requirements set out by Parliament and Council in basic legislation.”
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