Please note that data for 2010 is preliminary and for information only. Marianne Klingbeil Acting Chair of the Impact Assessment Board Secretariat General,

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Presentation transcript:

Please note that data for 2010 is preliminary and for information only. Marianne Klingbeil Acting Chair of the Impact Assessment Board Secretariat General, European Commission Impact Assessment Board in 2010 Brussels 22 October 2010

Please note that data for 2010 is preliminary and for information only. Initiatives examined by the IAB in 2010 The main IAB clients: MARKT, ENTR, ENER, COMP Financial markets Specific product standards Competition guidelines Number of IA in 2010 lower than in 2009 New Commission and Parliament Late adoption of the Commission Work Programme

Please note that data for 2010 is preliminary and for information only. Increase of legislative proposals

Please note that data for 2010 is preliminary and for information only. Main IAB recommendations (1)

Please note that data for 2010 is preliminary and for information only. Main IAB recommendations (2)

Please note that data for 2010 is preliminary and for information only. Two cases Administrative burden assessment: Undertakings for Collective Investment in Transferable Securities Simplification initiative: the forestry and agricultural vehicles

Please note that data for 2010 is preliminary and for information only. Case 1: Forestry and agricultural vehicles Context and issues at stake Type approval system for motor vehicles identified as priority area for simplification Specific objectives of the revision: simplification of law, improved regulatory framework and completion of single market for agricultural and forestry vehicles High costs of maintaining current fragmented regulatory framework Costs of EC type approval for individual vehicles type and benefits for buyers

Please note that data for 2010 is preliminary and for information only. Case 1: Forestry and agricultural vehicles (2) Outcome 24 Directives +35 related Directives replaced by one Regulation Improved safety Environment requirements left untouched Wider benefits from simplification assessed in qualitative terms

Please note that data for 2010 is preliminary and for information only. Case 2: Retail investment funds (2009/68/EC, or UCITS IV) Context and issues at stake Directive includes delegation of power to define i.a.: standard notification letter and attestation model procedures for exchange of information (via electronic communication) procedure for on-the-spot verification Proposal developed in co-operation with the Committee of European Securities Regulators (CESR) About 36,000 UCITS funds concerned, with 5.2 trillion worth of assets, 71 million unit holders

Please note that data for 2010 is preliminary and for information only. Case 2: Retail investment funds (2) Outcome Costs of up to EUR 400 million to the industry Costs to be seen in the context of overall assets or number of shareholders Benefits: increased cross-border activity, rationalisation in the UCITS market, more informed investment decisions with attendant reductions in levels of consumer complaints. Better informed investors expected to better protect their own interests. Increasing confidence in the UCITS market and reducing levels of investor detriment and complaints.

Please note that data for 2010 is preliminary and for information only. Further information All initiatives, all impact assessments and IAB opinions publicly available: