WRITTEN QUESTION E-0013/03 by Theresa Villiers (PPE-DE) to the Commission. Investment Services Directive.
Date: 2003-01-20
Institutions: European Parliament, Provisional data
Subjects: consumer protection, financial legislation, investment bank, investment company

9.10.2003

EN

Official Journal of the European Union

C 242 E/85

In the previous structural Funds programming period (1997-1999), the Initiative IRMA (Interreg Rhein-
Meuse Activities) already provided financial support for the prevention of flooding in the Rhine-Meuse
basin (over EUR 130 million from the ERDF for a total funding of over EUR 400 million).

In the present period, from 2000 to 2006, the programme North West Europe has by far reserved the
most important budget for flood prevention (cid:1) its measure for ‘The prevention of flood damage’ amounts
to some EUR 92,3 million, of which EUR 46,2 million from the ERDF. The Cadses programme,
in its
priority for ‘Environment protection’ reserves about EUR 28,5 million for possible actions in the field of
‘environment protection’, ‘risk management’ and ‘integrated water management’. Finally, the Alpine Space
programme, its measure ‘Co-operation in the field of natural risks’ foresees a total of EUR 17 million, of
which EUR 8,5 million from the ERDF.

(1) Directive 2000/60/EC of the Parliament and of the Council of 23 October 2000 establishing a framework for

Community action in the field of water policy.

(2) Rhine: action plan flood protection adopted, implementation ongoing. Elbe: flood protection strategy adopted, draft
action programme currently validated following the 2002 flood disaster, adoption foreseen end-2003. Danube river:
minimisation of impacts of floods as part of the adopted action programme, follow-up evaluation ongoing. Maas
and Scheldt: flood prevention and protection is key part of the recently signed new Conventions.

(2003/C 242 E/088)

WRITTEN QUESTION E-0013/03

by Theresa Villiers (PPE-DE) to the Commission

(20 January 2003)

Subject: Investment Services Directive

What is the Commission’s intention with regard to the extent to which the Investment Services Directive,
as revised, should prohibit the making of rules which would permit the sale of investment products or
services where they have not been preceded by measures to ensure that they are suitable to individual
potential customers?

Answer given by Mr Bolkestein on behalf of the Commission

(12 February 2003)

The Commission’s intention is to strengthen the Community’s legislative framework to protect investors by
enhancing obligations of investment firms when providing services to clients.

To this end, Article 18 of the proposal (1) requires Member States to ensure that investment firms obtain
the necessary information from the client regarding its knowledge and experience in the investment field,
its investment objectives and financial situation so as to enable the investment firm to determine the
investment services and financial instruments suitable for that client. The Commission’s approach is based
on the current Article 11 of the existing Investment Services Directive (2). This approach is in line with the
harmonised conduct of business rule-book agreed by CESR.

The Commission believes it is indispensable for an investment firm acting on behalf of a client, in order to
properly fulfil its agency obligations to its clients, to obtain that information and to assess the suitability,
for that client, of services or transactions in financial instruments which are being considered. Having said
that, the Commission fully accepts that the intensity of this assessment and the manner in which it is
undertaken needs to be carefully worked out to take into account, inter alia, the nature of the service (what
would be appropriate for an automated execution-only service might not be for a discretionary portfolio
management service) and of the financial product.

C 242 E/86

Official Journal of the European Union

EN

9.10.2003

Article 18 clearly provides for a differentiation in the level of suitability and ‘know your customer’
requirements, taking into account the nature of the investment service. This will ensure that the form and
extent of this assessment are implemented in a way which is appropriate for the provision of low cost and
flexible brokerage formats to clients, while still taking account of the extent to which transactions in
different financial products represent different degrees of market risk for the investors.

(1) COM(2002) 625 final.
(2) Council Directive 93/22/EEC of 10 May 1993 on investment services in the securities field (cid:1) OJ L 141, 11.6.1993.

(2003/C 242 E/089)

WRITTEN QUESTION E-0015/03

by Christopher Huhne (ELDR) to the Commission

(20 January 2003)

Subject: Employees of the Commission

Will the Commission please give figures for the total numbers of employees in post for each of the last
five years (including 2002 if available), together with the total wage bill and average paid per employee?

Will the Commission also give figures for the number of employees of the Commission as a percentage of
total employees of the Commission, Council and Parliament together, and as a percentage of total
employees of all EU Institutions?

Answer given by Mr Kinnock on behalf of the Commission

(3 April 2003)

1.
The table below shows the total number of employees of the Commission, the total wage bill (total
payments charged against the various budget lines including all associated costs and contributions) and the
average paid per employee. Figures are only readily available for the last four years.

II

III

Year

(In euro)

I

1999

2000

2001

2002

Commission Total
number of employees
(officials and temporary staff,
auxiliary and local staff,
special advisers and others)

24 877

25 027

25 585

26 394

Total wage bill

Average payment
per employee per year

1 709 133 547

1 767 988 924

1 856 899 099

1 954 456 016

68 703

70 643

72 578

74 049

Since the Commission does not have access to the figures for numbers of employees of the other
2.
Institutions, the Honourable Member will
find below the proportion of posts in the Commission’s
establishment plan compared to the total number of posts in the establishment plans of all the institutions.
The establishment plan only includes officials and temporary agents’ posts.

Year

1998

1999

2000

2001

2002

Commission
(permanent and temporary posts)

Total EU institutions
(permanent and temporary posts)

21 495

21 603

21 703

22 306

22 453

30 384

30 599

30 819

31 604

31 861

%

70,74

70,60

70,42

70,47

70,58