Procedure completed
Role | Committee | Rapporteur | Shadows |
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Lead | ECON | BERÈS Pervenche (PSE) |
Legal Basis EC Treaty (after Amsterdam) EC 095
Activites
- 2008/03/20 Final act published in Official Journal
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2008/03/11
Final act signed
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2008/03/11
End of procedure in Parliament
- #2856
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2008/03/03
Council Meeting
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2008/03/03
Act adopted by Council after Parliament's 1st reading
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2007/11/14
Results of vote in Parliament
- Results of vote in Parliament
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T6-0516/2007
summary
The European Parliament adopted a resolution drafted by Pervenche BERES (PES, FR)on the proposal for a directive of the European Parliament and of the Council amending Directive 2003/6/EC on insider dealing and market manipulation (market abuse), as regards the implementing powers conferred on the Commission (comitology).It made the following amendments: - "Accepted market practices' shall mean practices that are reasonably expected in one or more financial markets and are accepted by the competent authority in accordance with guidelines adopted by the Commission in accordance with the regulatory procedure with scrutiny;- with regard to procedures regarding cross-border inspections, Parliament stated that the Commission will adopt implementing measures on the working procedures for exchange of information and cross-border inspections as referred to in Article 16 in accordance with the old regulatory procedure;- by 31 December 2010 and, thereafter, at least every 3 years, the Commission shall review the provisions concerning its implementing powers and present a report to the European Parliament and to the Council on the functioning of those powers. The report shall examine, in particular, the need for the Commission to propose amendments to the Directive in order to ensure the appropriate scope of the implementing powers conferred on the Commission. The conclusion as to whether a modification is necessary or not shall be accompanied by a detailed statement of reasons. If necessary, the report shall be accompanied by a legislative proposal to modify the provisions conferring implementing powers on the Commission.
- 2007/11/07 Committee report tabled for plenary, 1st reading/single reading
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2007/11/05
Vote in committee, 1st reading/single reading
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2007/01/17
Committee referral announced in Parliament, 1st reading/single reading
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2006/12/22
Legislative proposal published
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COM(2006)0913
summary
PURPOSE: to amend Directive 2003/6/EC on insider dealing and market manipulation (market abuse) by introducing a reference to the new regulatory procedure with scrutiny (comitology).PROPOSED ACT: Directive of the European Parliament and of the Council. CONTENT: Council Decision 1999/468/EC laying down the procedures for the exercise of implementing powers conferred on the Commission has been amended by Council Decision 2006/512/EC (CNS/2002/0298).The amended Decision introduces a new regulatory procedure with scrutiny to be used for measures of general scope which seek to amend non-essential elements of a basic instrument, adopted under co-decision, including by deleting some of those elements or by supplementing the instrument by the addition of new non-essential elements. This procedure allows the legislator to oppose the adoption of "quasi-legislative" measures implementing a codecision-based instrument when it considers that the draft exceeds the implementing powers provided for in the basic instrument, or that the draft is incompatible with the aim or the content of that instrument or fails to respect the principles of subsidiarity or proportionality.In a joint statement, the three institutions agreed on a list of 26 basic instruments already in force to be adjusted without delay in accordance with the new regulatory procedure with scrutiny (see ACI/2006/2152). Each case has been assessed on its own merits, notably in view of the nature of the implementing powers conferred on the Commission and the specificity of each sector.Lastly, in accordance with the abovementioned statement, the Commission is proposing to repeal any provisions of these instruments that provide for a time-limit on the delegation of implementing powers to the Commission.
- DG {'url': 'http://ec.europa.eu/dgs/economy_finance/index_en.htm', 'title': 'Economic and Financial Affairs'}, ALMUNIA Joaquín
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COM(2006)0913
summary
Documents
- Legislative proposal published: COM(2006)0913
- Committee report tabled for plenary, 1st reading/single reading: A6-0423/2007
- Results of vote in Parliament: Results of vote in Parliament
- Decision by Parliament, 1st reading/single reading: T6-0516/2007
- : Directive 2008/26
- : OJ L 081 20.03.2008, p. 0042
History
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