Activites

• 1998/05/12 End of procedure in Parliament
• 1998/05/11 Debate in Parliament
  • Debate in Parliament summary

    In a statement on the failure of the conciliation procedure on investment services in the securities sector, the part-session President, Mr Renzo IMBENI (PSE, IT), pointed out the generally successful operation of the codecision procedure. Since this procedure had entered into force, 124 acts had been adopted, including 77 without any recourse to the Conciliation Committee. For the other 47, the Conciliation Committee had reached an agreement. Therefore, over the previous four years, there had only been one disagreement between Parliament and Council within the Committee: this was in 1994 on the subject of voice telephony. In the case of the proposal for a directive on securities, the Conciliation Committee had failed to reach agreement specifically on the comitology provisions. As the Council had not confirmed its common position (which involved the early application of the new provisions of the Treaty of Amsterdam eliminating the third reading), the act had to be regarded as not adopted and the President announced a new Commission proposal for the beginning of June. The Chairperson of the Conciliation Committee, Mrs Nicole FONTAINE (EPP, FR), considered that the procedure’s failure stemmed from the Council’s stubbornness in wanting to impose a type 3b committee, which she denounced as anti-democratic. The European Parliament delegation to the Conciliation Committee had been unable to accept a solution that would have committed it to an unfortunate precedent. Following this particular case, Mrs Nicole FONTAINE urged all parties to find a long-term solution on comitology. The Council should realise that implementation measures needed to be adopted which respected the principles of transparency and democracy.

• 1998/04/03 Final decision by Conciliation Committee
• 1998/02/10 Formal meeting of Conciliation Committee
• 1997/11/18 Formal meeting of Conciliation Committee
• #2019
• 1997/06/26 Council Meeting
• 1997/04/09 Decision by Parliament, 2nd reading
  • T4-0145/1997 summary

    In adopting the recommendation for second reading by Ms Christine Margaret ODDY (PSE, UK), the European Parliament upheld its main demand, which concerned commitology. Parliament proposed a type II (b) rather than a type III (b) committee, as otherwise the Council would have the power to block the adoption of a particular measure by the Commission. �

• 1997/04/08 Debate in Parliament
  • Debate in Parliament summary

    The rapporteur accused the Council of favouring an approach which would give it implementing powers. She had therefore tabled two amendments proposing to set up a committee which would allow Parliament to have a vote on the chapter. Commissioner Monti stated that he could accept Amendment No 3, which introduced a recital on the modus vivendi. However, he was against all the amendments relating to the committee, particularly its role and any urgent decision-making procedure (Amendments Nos 1, 2, 6, 7, 9 and 10). He also rejected Amendments Nos 5 and 8, which called into question the Council’s provisional competence during the period prior to the establishment of the securities committee.

• 1997/03/19 Vote in committee, 2nd reading
  • A4-0093/1997
• 1997/01/16 Committee referral announced in Parliament, 2nd reading
• #1981
• 1996/12/16 Council Meeting
  • 07898/1/1996 summary

    The Council adopted its common position concerning the proposal for a Directive amending Directive 93/6/EEC on the capital adequacy of investment firms and credit institutions and Directive 93/22/EEC on investment services in the securities field. The common position retained the essential elements of the initial proposal, with some modifications. The main difference in comparison with the positions of the Commission and Parliament concerned commitology: the Council opted for procedure III, variant (b), rather than procedure III, variant (a) (Commission) or procedure II, variant (b) (Parliament). Moreover, the Council inserted a paragraph indicating that the committee was to have an advisory role in addition to its specific role in the commitology procedure. The Council did not retain the recital referring to the modus vivendi of 1994. �

• 1996/06/20 Modified legislative proposal published
  • COM(1996)0292 summary

    The Commission's modified proposal incorporates Parliament's amendment on the insertion of a recital relating to the modus vivendi between the European Parliament, the Council and the Commission concerning the implementing measures for acts adopted in accordance with the procedure laid down in Article 189b of the EC Treaty. However, the Commission cannot accept the amendments concerning the proposed change in committee procedure. �

• 1996/05/09 Decision by Parliament, 1st reading/single reading
  • T4-0214/1996 summary

    The European Parliament adopted the report by Mrs Christine Margaret ODDY (PSE, UK) on the proposal for a Directive amending Directive 93/6/EEC on the capital adequacy of firms and credit institutions and Directive 93/22/EEC on investment services in the securities field. As it stands, the proposal opts for a regulatory committee, which would enable the Commission to adopt its position if the Council has been unable to decide otherwise. In addition to an amendment specifically referring to the modus vivendi on the subject, Parliament proposed setting up a management committee instead of the regulatory committee proposed by the Commission.�

• 1996/05/08 Debate in Parliament
  • Debate in Parliament
• 1996/02/12 Vote in committee, 1st reading/single reading
  • A4-0034/1996
• 1995/09/18 Committee referral announced in Parliament, 1st reading/single reading
• 1995/07/17 Legislative proposal published
  • COM(1995)0360 summary

    OBJECTIVE: to do away with the temporary provisions contained in the directives on capital adequacy (93/6/EEC) and on investment services (93/22/EEC) with a view to establishing a securities committee. SUBSTANCE: - establishment of the new securities committee, which will be composed of representatives of the Member States and chaired by the Commission. It will operate in exactly the same way as the Insurance Committee; - the new committee will act as a forum for the discussion of all issues relating to the directives concerning the securities markets; - the proposal amends the notification arrangements for certain technical aspects covered by the directive on capital adequacy pending the creation of the securities committee. �

Documents

• Legislative proposal published: COM(1995)0360
• Committee report tabled for plenary, 1st reading/single reading: A4-0034/1996
• Debate in Parliament: Debate in Parliament
• Decision by Parliament, 1st reading/single reading: T4-0214/1996
• Modified legislative proposal published: COM(1996)0292
• Council position published: 07898/1/1996
• Committee recommendation tabled for plenary, 2nd reading: A4-0093/1997
• Debate in Parliament: Debate in Parliament
• Decision by Parliament, 2nd reading: T4-0145/1997
• Debate in Parliament: Debate in Parliament

History

(these mark the time of scraping, not the official date of the change)