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What is Lamfalussy

The new processes for the development of legislation adopted for the securities sector and in the process of being implemented for banking and insurance. Under this approach, framework directives are adopted under the current co-decision procedures, but measures designed to implement the detailed requirements are approved through comitology.

Crown Copyright. Material taken from HM-Treasury. Reproduced under the terms and conditions of the Click-Use Licence.

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Term created / updated 2007-05-22 14:12:42

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