ECOFIN reached political agreement on new Committees

12 May 2004

The Council reached political agreement on the Directive that will create four new committees.

The European Banking Committee (EBC) and European Insurance and Occupational Pensions Committee (EIOPC) will assist the Commission in adopting implementing measures for EU Directives. They replace the existing Banking Advisory Committee (BAC) and the Insurance Committee (IC). The responsibility for UCITS will be transferred from the UCITS Contact Committee to the existing European Securities Committee (ESC) and Committee of European Securities Regulators (CESR).

Formal adoption will take place in autumn after finalizing the translations.

Proposed Directive
ECOFIN results

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