European Parliament resolution on the Stockholm European Council on 23/24 March 2001
Date: 2001-04-05
Institutions: European Parliament
Subjects: European Council, financial market, interinstitutional relations (EU), securities, single market

24.1.2002

EN

Official Journal of the European Communities

C 21 E/341

Thursday 5 April 2001

Calls on the Member States to increase health inspection to stop animal products entering the EU

10.
food chain from countries and regions where foot-and-mouth disease is present;

Asks the Commission to prepare a study and report to the European Parliament and the Council
11.
regarding the steps necessary to minimise the risk of foot-and-mouth disease in the European Union and
the best means of dealing with any infection which occurs in the future;

12.

Instructs its President to forward this resolution to the Commission and the Council.

13. Stockholm European Council: Financial markets

B5-0244/2001

European Parliament resolution on the Stockholm European Council on 23/24 March 2001

The European Parliament,

(cid:129) having regard to the final report of the Committee of Wise Men on the regulation of European

securities markets and its previous resolution on the subject,

(cid:129) having regard to the European Council resolution on more effective securities market regulation in the

European Union,

Shares the objective of achieving a single European securities market by the end of 2003 thanks to a

1.
more efficient decision-making process among the three main institutions;

2.
Takes note of the European Council(cid:146)s resolution as a useful agreement between two of the three
institutions needed to allow this process to move forward, and looks forward to securing an early agree-
ment with the Council and the Commission on the mechanism for safeguarding democratic procedures
and transparency, including the European Parliament(cid:146)s access to all documents circulated to the proposed
Securities and Regulators Committees and a three-month period for the Parliament to consider draft imple-
menting measures submitted to the Securities Committee;

Considers, however, that in order to safeguard the institutional balance and to guarantee democratic
3.
control over implementing measures the Commission should commit itself, in a code of conduct or a
similar binding mechanism, not to go against a resolution of the European Parliament that the draft
implementing measures submitted to the Securities Committee exceed the implementing measures pro-
vided for in the framework legislation, or have not been prepared in accordance with the requirements
of transparency and consultation, and to submit amended measures or a legislative proposal under the
codecision procedure;

4. Welcomes the open and full review of the regulatory structures to take place in 2004, and notes that
the European Parliament should have the possibility to renew the powers of the Commission and the
Securities Committee to adopt implementing measures; demands that the introduction of a binding call-
back mechanism be included on the agenda of the intergovernmental conference to be convened in 2004,

Emphasises that, pending this review, the European Parliament will guarantee effective democratic
5.
control over securities legislation by using to the full its codecision powers, by ensuring through amend-
ments that all essential elements are included in the legislative proposal, and by being particularly vigilant
on implementing measures that could exceed the scope of implementing powers provided for in the basic
legislation; affirms that Parliament will also be an active participant in the proposed monitoring commit-
tee;

Instructs its President to forward this resolution to the Commission, the Council, the Heads of State

6.
and government of the Member States and the Forum of European Securities Commission.