Brussels, 12/01/2006 (Agence Europe) - The third meeting of the Inter-institutional Monitoring Group (IIMG), on 20 December 2005, allowed its six independent experts to hear from a number of stakeholders closely involved in the Lamfalussy process, a four-level regulatory approach which aims to create a more efficient system for the EU institutions to prepare, adopt and implement new legislation to integrate financial markets. The Monitoring Group also discussed the structure of the first IIMG interim report, to be published in March 2006. It is expected to cover the changes since the publication of the previous report, in November 2005, and identify some of the current bottlenecks in the Lamfalussy process. When its mandate expires in 2007, the IIMG will have delivered three reports, monitoring the implementation of the process in all relevant financial sectors. A questionnaire on market participants' experience of the process, has been sent to industry associations and federations at the European level. Other interested parties are invited to send their comments to IIMG-2005-2007@cec.eu.int before 31 January 2006.