Press Release: Financial Markets: Inter-institutional Monitoring Group for securities markets meets for the first time

The first meeting of the Inter-institutional Monitoring Group for securities markets took place on 7 October 2002. The group is composed of six independent experts, two nominated by each institution. It has a mandate to assess the progress made on implementing the 'Lamfalussy process' which aims to create a more efficient system for the EU institutions to prepare, adopt and implement new legislation to integrate securities markets. The group is expected to report results twice a year, with its first report in Spring 2003.