Frontloading to eligible counterparties and sub-frontloading to professional third parties may only take place if statutory provisions in the future participating Member States provide sufficient protection, or contractual arrangements are established between the parties involved, in relation to: (i) loans of euro banknotes and coins for frontloading; (ii) frontloading; and (iii) sub-frontloading.

2. Notes also that Europe has a duty to take into account the recent energetic corrective action undertaken in the United States in the wake of the Enron and WorldCom scandals by strengthening its financial regulatory and supervisory architecture, but also calls on EU institutions to ensure that their response to the Enron/WorldCom scandals is measured, proportionate and risk-based and targets the actual problems/risks; supports the swift reaction of American regulators but would have preferred mutual consultation rounds between European and American authorities at decision-making level before enacting such new laws; calls for a deepen ...[+++]ing of the dialogue;

The Community should use its considerable influence to ensure that, as an international regulatory system for trade in genetically modified organisms is developed, measures are based, where definite and unequivocal scientific evidence is lacking, on the precautionary principle.

AB. whereas although genetics specialists and professional organisations have made many moves to promote quality assessment, genetic testing services are provided under widely varying conditions and regulatory frameworks in the individual Member States,

Therefore, a modern, flexible and cost-effective regulatory system comprising legal and administrative measures, and which takes fully into account the needs of efficient risk capital markets (both supply and demand), should be introduced without delay.

(a) reduction of the regulatory burden on SMEs in accordance with the opinion of the economic committee,