Strasbourg, 14/11/2007 (Agence Europe) - The European Parliament has adopted an opinion on nine proposed directives on financial services (see EUROPE 9539). These proposals include the international agreement of 2006 on comitology and European law, which, amongst other things, gives the EP an increased role in the examination of execution measures which the Commission can adopt in order to implement directives in question. “We have managed to ensure (…) that the Commission will be invited to carry out regular checks, every three years, on the efficiency and democratic functioning of the transmission conditions for the powers of execution”, said French Socialist Pervenche Berès, President of the committee on economic and monetary affairs, during the debate at Monday's plenary session. By including revision clauses instead of extinction clauses, the Commission has agreed to examine the scope of its competency and to justify any legislative change. The following directives are concerned: - 2006/49/EC on capital adequacy for credit institutions; - 2002/87/EC on the monitoring of credit institutions and insurance companies; - 2003/6/EC on market abuse; - 2003/71/EC concerning the prospectus to be published by companies quoted on the stock exchange; - 2004/39/EC on the financial instrument markets; - 2006/48/EC on access to the activity and exercise of the establishments; - 2004/109/EC on the transparency of information on the shares of companies quoted on the stock exchange; - 2002/83/EC on direct life assurance; - 91/675/EEC instituting the European Insurance and Occupational Pensions Committee. (M.B.)