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The Commission has revised the Decisions establishing the 3L3 Committees CESR, CEBS and CEIOPS. The new Decisions contain a non-exhaustive list of tasks that the Committees are expected to perform and enhance the role of the Committees as regards the safeguarding of financial stability.
The Decisions introduce qualified majority voting when consensus cannot be reached. Members who do not follow measures adopted by the Committees shall be prepared to present the reasons for this choice. The measures adopted by the Committees remain non-binding.
The proposal will now enter in the co-decision procedure with a view to adoption by the European Parliament and the Council.