24 September 2007

ECON meeting 24 September (extraordinary)

Strasbourg
Room: SDM, SDM-S5
Monday, 19.00 – 20.30

International Financial Reporting Standard (IFRS) 8 concerning disclosure of operating segments
Rapporteur: Pervenche Berès (PSE)
Consideration of draft motion for a resolution

In an introduction to a discussion on a draft motion for a resolution, Ms BERÈS recalled that in April 2007 the Parliament had decided to postpone adoption of a resolution regarding International Financial Reporting Standard (IFRS) 8, pending a study by the Commission on the impact assessment of IFRS 8. The European Parliament resolution, presented in its draft version by the rapporteur, would incorporate the results of the Commission's impact study.

Implementing powers conferred on the Commission
Consideration of draft reports
Rapporteur: Pervenche Berès (PSE)

·  Capital adequacy of investment firms and credit institutions

·  Supervision of credit institutions, insurance undertakings and investment firms

·  Transparency requirements in relation to information about issuers of securities

·  Markets in financial instruments

·  The taking up and pursuit of the business of credit institutions

·  Insider dealing and market manipulation

·  Prospectus on securities

·  Life assurance

Following a presentation by the rapporteur, the Committee held an exchange of views on the eight draft reports. Ms BERÈS informed members that in case of agreement between the ECON and LIBE Committees, "standard" review clauses could be tabled as amendments to all relevant draft alignment reports, in order to replace "sunset clauses" in the basic acts.

In the ensuing debate, members considered whether it was opportune for the Parliament to abandon sunset clauses in the basic acts.

Timetable:

Deadline for tabling amendments: 4 October 2007 at 12h00

Consideration of amendments and vote in Committee: 22 October 2007

Vote in plenary: November 2007

© Graham Bishop