The European Commission has today adopted a proposal adjusting the financial rules for public procurement by EU institutions. Once in place, the new rules will ensure better protection of the Union's financial interests.
In order to protect the EU budget from the earliest stages, a specialised central panel will be able to exclude companies and individuals from accessing EU contracts, or even impose financial penalties. This will allow much swifter action than now, effectively showing a red card to those trying to participate in EU tenders who are involved in fraud or corruption. The rights of defence of such companies or persons will of course be guaranteed.
The proposal also aims at enhancing public control and transparency – it is proposed to make public anyexclusions or financial penalties imposed.
With this decision, the Commission has seized the opportunity to align the EU Financial Regulation with the three new directives on public procurement adopted earlier this year (see MEMO/14/20).
This proposal will be now discussed within the European Parliament and the Council. The European Court of Auditors will also provide its opinion. The new rules are expected to enter into force by the end of 2015.