CEBS starts a formal consultation on amendments to its consultation practices. The formal consultation starts with the banking industry, market participants and end-users to amend CEBS consultation practices. The proposals aim to provide more flexible procedures when the need for limited amendments to CEBS Guidelines arises.
In March 2005 CEBS approved its document “Public Statement of Consultation Procedures”. This document established as a principle that CEBS will consult on its guidelines relating to the convergence of Member States’ supervisory practices. The proposed changes introduce some flexibility into the consultation process for amending Guidelines. CEBS will decide whether an amendment to a CEBS Guidelines should be classed as a drafting, limited or material amendment.
CEBS may either use a reduced public consultation period for limited amendments or a two-week procedure for drafting amendments.
Deadline for consultation is 19 June 2007.
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