Database on German and European Economic Law

 Directive 2005/1/EC

I. Description

While substantive progress has been  made, the single market for financial services remains incomplete. Markets remain segmented. There are relatively low levels of cross-border service provision. Yet, the completion of a genuine single market for financial services is crucial for economic growth and job creation in the European Union. It will increase European economic competitiveness and contribute to economic and social cohesion. In order to achieve this fundamental objective, the Commission adopted an Action Plan for Financial Services that identified a series of actions required to construct a single European financial market. At the Lisbon European Council in March 2000, and at the Stockholm European Council in March 2001, the European Heads of State or Government called for full implementation of the Action Plan by 2005.
Despite these measures, it has become increasingly clear, initially in the securities sector but subsequently for the other financial service sectors, that the financial services committee structure itself has and will increasingly come under pressure, especially when it will have to deal with new demands being placed on it.

II. General Information

Title

Directive 2005/1/EC of the European Parliament and of the Council of 9 March 2005 amending Council Directives 73/239/EEC, 85/611/EEC, 91/675/EEC, 92/49/EEC and 93/6/EEC and Directives 94/19/EC, 98/78/EC, 2000/12/EC, 2001/34/EC, 2002/83/EC and 2002/87/EC in order to establish a new organisational structure for financial services committees

Status
Existing
Directive
2005/1/EC
Source
O.J. EC No L (Legislation), Edition 79, Year 2005, p.1
Adoption
03/09/2005
Promulgation
03/24/2005
Character
Regular Act
Legal Basis
Art. 47 Abs. 2 EC
Legislative Procedure
Codecision procedure
Background

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text :
Directive 2005/1/EC of the European Parliament and of the Council of 9 March 2005 amending Council Directives 73/239/EEC, 85/611/EEC, 91/675/EEC, 92/49/EEC and 93/6/EEC and Directives 94/19/EC, 98/78/EC, 2000/12/EC, 2001/34/EC, 2002/83/EC and 2002/87/EC in order to establish a new organisational structure for financial services committees

  2005/1/EC

Beschluss:
03/09/2005 (A)
Verkuendung:
03/24/2005 (P)
(A) Adoption | (P) Promulgation

2. Legislative History

Datum
Typ / Titel
Textfassungen
04/30/2004
Opinion of the European Economic and Social Committee
ABL. C 112/2004 p. 21
02/20/2004
Opinion of the European Central Bank
ABL. C 58/2004 p. 23
11/05/2003
Proposal
COM 2003/0659 final

3. Legal Impact

Auswirkungstyp
Richtlinie
Textfassungen
Amendment
  Directive 2002/87/EC
Amendment
  Directive 2002/83/EC
Amendment
  Directive 2001/34/EC
Amendment
  Directive 2000/12/EC
Amendment
  Directive 98/78/EC
Amendment
  Directive 94/19/EC
Amendment
  Directive 93/6/EEC
Amendment
  Directive 92/49/EEC
Amendment
  Directive 85/611/EEC
Amendment
  Directive 91/675/EEC
Amendment
  Directive 77/239/EEC

Legend

Legislative Act Status

Documents

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Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Versions
2. Legislative History
3. Legal Impact