A new phase now begins for the period 2005-2010, wi
th a very different focus: consolidation of existing legislation, with few new initiatives; ensuring the effective transposition of European rules into nati
onal regulation and more rigorous enforcement by supervisory authorities; continuous ex-post evaluation whereby the Commission will monitor carefully the application of these rules in practice – and their impact on the European financial sector. Member States, regulators and market participants must play their role. If needed, th
...[+++]e Commission will not hesitate to propose to modify or even repeal measures that are not delivering the intended benefits. This approach is essential to ensure that the hard-won European regulatory framework will function optimally – for the benefit of market participants, more than 20 million European businesses and 450 million citizens, and thus for the European economy as a whole.Au besoin, la Commission n’hésitera pas à propose
r une modification, voire l’abrogation, de mesures qui ne donnent pas les résultats attendus. Cette approche est essentielle pour assurer le fonctionnement optimal du cadre réglementaire européen conquis de haute lutte – dans l’intérêt des acteurs du
marché (plus de 20 millions d’entreprises européennes et de 450 millions de
consommateurs), et donc de l’économie européenne dans son e
...[+++]nsemble.