fredag 8 juli 2011

What happens next on the Investor-Compensation Schemes Directives?

When the European Parliament, on 5th July, voted in plenary on the final text of the Investor-Compensation Schemes Directive (Olle Schmidt's report) there were problems regarding the actual vote result on critical amendment 24 and 69.

The question is whether or not the Parliament approved a compensation level of 50 000 or 100 000 euro. The vote result is contested adn the following procedure now applies (in accordance with the European Parliament Rule 216):

In committee
The draft corrigendum will be announced by the Chair at the beginning of the ECON committee meeting on Tuesday 12 July. In the absence of any objection, the corrigendum will be submitted to Parliament.

In plenary
The corrigendum will be announced at the September I part-session, and will be deemed approved unless a request is made by a political group or at least 40 Members that the corrigendum be put to the vote.

We will follow the process closely and post new information as soon as we have it.

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