The Council took note of an interim report on application of the Lamfalussy regulatory process for financial services, presented by the chairman of an inter-institutional monitoring group (see Council doc. 6171/07). The Council held a brief exchange of views on the priorities to be established for a forthcoming final report on a review of the Lamfalussy process.
Review of the process is scheduled for the second half of this year, on the basis of a final report from the monitoring group and assessments by the Commission and the financial services committee.