Other news - January 2011

Modernising public procurement and deepening the Single Market for services: two key initiatives to stimulate growth


The European Commission has launched today a consultation on the modernisation of the rules on public procurement. It has also adopted an ambitious action plan to further unlock the potential of the Single Market for services.


Commission decision lays the foundation for reinforced international cooperation on the supervision of auditors


The European Commission today adopted the first decision recognising the equivalence of the audit oversight systems in 10 third countries . This decision paves the way for reinforced cooperation between Member States and third countries which have been declared equivalent, so that they can mutually rely on each others' inspections of audit firms.


European legislation
Commission adopts additional legislative proposals to strenghten financial supervision in Europe


Following the launch of the three new European Supervisory Authorities on 1st January 2011, the Commission now proposes to make targeted changes to legislation in the area of insurance and securities regulation to ensure that the new Authorities can work effectively.


Michel Barnier
ECOFIN Council - Press conference


More rigorous bank stress tests and the debate about the Single Market Act were the two main points raised by Commissioner Barnier at the joint press conference on the ECOFIN Council of today.


Central Securities Depositories
Enhancing safety of European financial markets: common rules for Central Securities Depositories and securities settlement


As part of its work in creating a more transparent and stable financial system, the European Commission Services have today launched a consultation on Central Securities Depositories (CSDs) and on the harmonisation of certain aspects of securities settlement in the European Union.


Professional Qualifications
Commission launches public consultation on the Professional Qualifications Directive and a European Professional Card


The Commission services have today launched a public consultation on the Professional Qualifications Directive (Directive 2005/36/EC). The consultation is an opportunity for stakeholders to highlight areas of the Directive they feel could be simplified and made more user-friendly. It also seeks views on how to better integrate professionals working in the Single Market, and raises the option of a European Professional Card.


Commission seeks views on possible EU framework to deal with future bank failures


Following the publication of a Communication on 20 October 2010 on a European crisis management framework for the financial sector, the European Commission has today launched a consultation on technical details underpinning that framework.