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eu depositor protection proposals and the uk parliament November 25, 2008

Posted by Bradley in : Uncategorized , trackback

The UK House of Commons European Scrutiny Committee has been considering the proposed directive on depositor protection which has been put forward on the basis of limited consultation. The Committee had some issues:

we …understand why it is felt necessary to push through this draft Directive speedily, even without a proper impact assessment and public consultation. Nevertheless we are concerned that the rush should not lead to ill-considered and flawed legislation. Moreover we note that:
– the Government has a number of practical questions to which it needs answers; and
– it seems implicit in the Minister’s comments about the balance between the responsibilities of the Commission, the Council and Member States that the Government is not convinced about the Lamfalussy process arrangements in the present text of the draft Directive.. So we recommend that this document …should be debated in European Committee


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