The ECB's competence to deliver an opinion is based on Article 105(4) of the Treaty establishing the European Community since the draft decision affects the structure and the functions of one of the EU's financial services committees and touches upon the contributory role of the European System of Central Banks (ESCB) with regard to the smooth conduct of policies relating to the prudential supervision of credit ...[+++] institutions and the stability of the financial system, as referred to in Article 105(5) of the Treaty.

There are a number of "good news" stories: the adoption of the services directive; the significant steps forward in financial services; the adoption of a new state aid framework for RD and innovation as well as guidance on tax incentives in favour of R agreement on the 7th Framework Programme for research and technological development which will raise RD spending by 75% between 2007 and 2013 and support for major public-private partnerships; final political agreement ...[+++] on the launching of the SESAR joint undertaking; as well as support for SMEs under the Competitiveness and Innovation Programme.

The FIN-USE forum of financial services users plays a very important role by conveying the user perspective about EC policy development[18].

- The Financial Services Action Plan [1] of 1999, which confirmed the overall objectives which should guide the financial services policy at EU level and set out a framework for an integrated capital market by 2005;

(b) the Association Committee shall, no later than six months after the entry into force of this Agreement, establish a list of at least five individuals who are not nationals of either Party, and who are willing and able to serve as arbitrators and be identified as chairperson of arbitration panels in financial services. The Association Committee shall ensure that the list always contains five individuals at any point in time. Those individuals shall have expertise or experience in financial services law or practice, which may include the regulation of financial institutions ...[+++], be independent, serve in their individual capacities and not be affiliated with, nor take instructions from, any Party or organisation and shall comply with the Code of Conduct set out in Annex XVI. Such list may be amended every three years.

(b) the Association Committee shall, no later than six months after the entry into force of this Agreement, establish a list of at least five individuals who are not nationals of either Party, and who are willing and able to serve as arbitrators and be identified as chairperson of arbitration panels in financial services. The Association Committee shall ensure that the list always contains five individuals at any point in time. Those individuals shall have expertise or experience in financial services law or practice, which may include the regulation of financial institutions ...[+++], be independent, serve in their individual capacities and not be affiliated with, nor take instructions from, any Party or organisation and shall comply with the Code of Conduct set out in Annex XVI. Such list may be amended every three years;