9. Union funding should be designed to support exploratory work on actions which aim to promote the strategic objectives of the Integrated Maritime Policy, including the integrated maritime governance at all levels, the further development and implementation of integrated sea-basin strategies tailored to the specific needs of Europe's different sea basins, the definition of the boundaries of sustainability of human activities in the framework of the Marine Strategy Framework Directive, which constitutes the environmental pillar of the Integrated Maritime Policy, paying due attention to their cumulative impacts, on the basis of the ecosystem approach, the further involvement of stakeholders in integrated maritime governance schemes, the furt ...[+++]her development of cross-cutting tools for integrated policy-making, the promotion of the international dimension of the Integrated Maritime Policy, and sustainable economic growth, employment, innovation and competitiveness.

Information gathered by competent authorities should be shared with other authorities in the Union, with ESMA and with the European Systemic Risk Board (ESRB) established by Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board so as to facilitate a collective analysis of the impact of the leverage of AIFs managed by AIFMs on the financial system in the Union, as well as a common ...[+++] response.

In the areas of its competence, the Authority should contribute to, and participate actively in the development and coordination of effective and consistent recovery and resolution plans, procedures in emergency situations and preventive measures to ensure the internalisation of costs by the financial system, in order to minimise the systemic impact of any failure and the reliance on taxpayer funds to bail out financial market participants. It should contribute to developing methods for the resolution of failing key financial market participants in ways which avoid contagion, ...[+++] which allow them to be wound down in an orderly and timely manner, and which, where applicable, include coherent and credible funding mechanisms as appropriate.

In the areas of its competence, the Authority should contribute to, and participate actively in the development and coordination of effective and consistent recovery and resolution plans, procedures in emergency situations and preventive measures to ensure the internalisation of costs by the financial system, in order to minimise the systemic impact of any failure and the reliance on taxpayer funds to bail out financial market participants. It should contribute to developing methods for the resolution of failing key financial market participants in ways which avoid contagion, ...[+++] which allow them to be wound down in an orderly and timely manner, and which, where applicable, include coherent and credible funding mechanisms as appropriate.

The types of activities our members are responsible for, but not limited to, include: providing advice on financial implications and the potential impact of management proposals and actions; financial administration systems, operations and services, such as accounting control, reporting of revenue and expenditures; financial planning and analysis; financial policy and system development; internal financial audits; and also providing advice on and approval of the adequacy of financial controls and programs.

Indeed, the MacKay task force's own mandates and priorities reflected the strong imprints of this committee's extensive prior contribution to financial services policy.