ECON meeting on draft report on clearing and settlement

29 March 2005

Ms Piia-Noora Kauppi became new rapporteur of the EP draft report on Clearing and settlement in the European Union as Theresa Villiers candidates for the forthcoming elections in the UK. Although Ms Kauppi has not yet had the possibility to read through all amendments posed, she said that she cannot imagine ‘ex-ante’ competition rules but will concentrate more on transparency. However, it became clear that the discussion about a possible directive on clearing and settlement has not yet ended.

Commission representative underlined that the key element of the current stage is the preparation of the impact assessment which will be completed end this year. The commission will decide in the first quarter of 2006 about how to move forward.

ECON Committee will discuss the draft report on 19 April, and will vote on 26 April.

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