Brussels, 22/03/2005 (Agence Europe) - The European Commission has just announced the results of the second European consultation on compensation and delivery-regulation, launched in April 2004. Out of the 82 replies from the public authorities and market operators, 47 supported the Commission proposal for a directive planned for 2006. Compensation and delivery-regulation systems allow “post-market” operations to be carried out, which are necessary to the transfer of property and payments between buyers and sellers.
Although most actors want Community level legislation, divergences of approach exist on the content of a possible directive. The “CESAME” group of experts' activities focus on measures to take for better market integration of the national systems and analysed the consultation results last November (EUROPE 6 November 2004). The group noted that divergences existed on access rights to compensation and delivery-regulation, as well as on the regulatory structure.
According to the consultation results, actors want the Commission to play a major role. Charlie McCreevy, European Commissioner for the internal market and services said in a press statement that he was very satisfied with the results, “We won't hurry legislation, and any proposal will be the subject of a comprehensive impact study. Any decision on content, the nature and field of application for a possible directive will depend on the indications provided in this study”. The Commission is currently pursuing a probe into the impact of a possible directive.
As well as the CESAME group, another group of experts is working on questions of legal security. The Commission is planning to set up in the next two months a third group, which will work on the problems of tax compliance.