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The Inter-institutional Monitoring Group published its first interim report on the 'Lamfalussy Process'.. In the report the Group asserts that there is general and strong support for the Lamfalussy approach. The Group identified a number of unresolved questions and uncertainties surrounding the procedure.
As a next step in early 2007, its second interim report will focus on preliminary suggestions for the improvement of the process. It will take into account all assessments and considerations provided by stakeholders acting on the European financial markets.
The members of the Group intend to conduct specific consultations in the near future which will give interested parties the opportunity to make their views known on this report and, in particular, on the identified bottlenecks.