EU committee overhauled

At the February 18 meeting of the Council of Economics and Finance Ministers (CEFM), a decision was taken to overhaul the structure of the Financial Services Policy Group (FSPG).

The FSPG will be replaced by the Financial Services Committee (FSC), which will be chaired by a member state. The secretariat will be provided by the CEFM. The FSC will advise the CEFM as well as the European Commission on financial market issues, and will report to the EU’s Economic and Finance Committee (EFC).

The decision to establish the FSC follows the decision of the EFC to adopt a more efficient system, based on a new committee structure, for EU institutions to “prepare adopt, and

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