Press Release: Financial markets: Inter-institutional Monitoring Group for financial services re-established

The European Parliament, the Council and the European Commission on 25 July 2005 agreed on the re-establishment of the Inter-institutional Monitoring Group for financial services in order to cover the extended Lamfalussy process. The Monitoring Group was to be composed of six independent experts, of which each institution had nominated two. It was set-up with a mandate to assess the progress made on implementing the 'Lamfalussy process', aimed at creating a more efficient system for the EU institutions to prepare, adopt and implement new legislation to integrate financial markets. The first meeting of the Monitoring Group was scheduled for September 2005.

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