Progress: Procedure completed
Role | Committee | Rapporteur | Shadows |
---|---|---|---|
Lead | ECON | RANDZIO-PLATH Christa ( PES) | |
Committee Opinion | AFCO | INGLEWOOD The Lord ( PPE-DE) |
Lead committee dossier:
Legal Basis:
EC Treaty (after Amsterdam) EC 047-p2
Legal Basis:
EC Treaty (after Amsterdam) EC 047-p2Subjects
Events
PURPOSE: to establish a new organisational structure for financial services committees.
LEGISLATIVE ACT: Directive 2005/1/EC of the European Parliament and the Council.
CONTENT: The Council adopted a Directive establishing a new organisational structure for financial services committees with the aim of helping legislators and regulators to respond more rapidly and effectively to technological change and market developments.
The Directive is one of a battery of measures introduced to extend the structure of EU committees used since 2002 in the areas of banking, insurance and investment funds. It seeks to facilitate greater cooperation between regulators.
Four new committees have been established. Two of them, the European Banking Committee (EBC) and the European Insurance and Occupational Pensions Committee (EIOPC), will assist the Commission in the adoption of application measures stemming from Directives concerning financial services, in the same manner as the European Securities Committee (ESC) deals with securities matters.
The two others, the Committee of European Banking Supervisors (CEBS) and the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS), have already been set up, and are composed of the national supervisors. Their role is to implement EU legislation in the Member States in their respective fields.
The Directive amends the following Directives:
- 93/6/EEC, 94/19/EC and 2000/12/EC concerning the banking sector;
- 73/239/EEC, 91/675/EEC, 92/49/EEC, 98/78/EC and 2002/83/EC concerning the insurance and occupational pensions sector;
- 85/611/EEC and 2001/34/EC concerning the securities sector;
- 2002/87/EEC concerning financial conglomerates.
ENTRY INTO FORCE: 13/04/2005.
TRANSPOSITION: 13/05/2005.
The corrigendum was adopted.
The corrigendum was adopted.
Documents
- Final act published in Official Journal: Directive 2005/1
- Final act published in Official Journal: OJ L 079 24.03.2005, p. 0009-0017
- Text adopted by Parliament, 1st reading/single reading: T6-0060/2005
- Text adopted by Parliament, 1st reading/single reading: OJ C 320 15.12.2005, p. 0014-0036 E
- Decision by Parliament, 1st reading: T6-0060/2005
- Text adopted by Parliament, 1st reading/single reading: T5-0224/2004
- Text adopted by Parliament, 1st reading/single reading: OJ C 103 29.04.2004, p. 0446-0527 E
- Economic and Social Committee: opinion, report: CES0073/2004
- Economic and Social Committee: opinion, report: OJ C 112 30.04.2004, p. 0021-0024
- Economic and Social Committee: opinion, report: CES0504/2004
- Decision by Parliament, 1st reading: T5-0224/2004
- Committee report tabled for plenary, 1st reading/single reading: A5-0162/2004
- Committee report tabled for plenary, 1st reading: A5-0162/2004
- Document attached to the procedure: OJ C 058 06.03.2004, p. 0023-0025
- Document attached to the procedure: BCE(2004)0007
- Legislative proposal: COM(2003)0659
- Legislative proposal: EUR-Lex
- Legislative proposal published: COM(2003)0659
- Legislative proposal published: EUR-Lex
- Legislative proposal: COM(2003)0659 EUR-Lex
- Document attached to the procedure: OJ C 058 06.03.2004, p. 0023-0025 BCE(2004)0007
- Committee report tabled for plenary, 1st reading/single reading: A5-0162/2004
- Text adopted by Parliament, 1st reading/single reading: T5-0224/2004 OJ C 103 29.04.2004, p. 0446-0527 E
- Economic and Social Committee: opinion, report: CES0073/2004 OJ C 112 30.04.2004, p. 0021-0024
- Economic and Social Committee: opinion, report: CES0504/2004
- Text adopted by Parliament, 1st reading/single reading: T6-0060/2005 OJ C 320 15.12.2005, p. 0014-0036 E
History
(these mark the time of scraping, not the official date of the change)
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2.50.10 Financial supervision
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