17/07/2006 (Agence Europe) - Socialist members MEP gave a cold reception to the recent proposals of Charlie McCreevy, the European Commissioner for the internal market. His proposals focus on the “post market” sector, namely, compensation and the delivery regulation (EUROPE 9230). Ieke van den Burg (Netherlands) declared in a press release that “we were waiting for more precise proposals…Mr McCreevy intends to follow the path of self-regulation. Leaving everything to the control of the market is simply insufficient”. On 12 July, Charlie McCreevy indicated that the Commission would halt the hypothesis of launching a European legislative initiative, which he believed could be counter-productive and block the restructuring process in the stock market sector. He then sketched out some guidelines for the industry's voluntary code of conduct in four stages, designed to provide more competition in the areas of compensation and the delivery regulation by the end of 2007.