Dear Governor Matolcsy, Ladies and Gentlemen, Almost to the day 15 years ago, on 15 February 2001, Alexandre Lamfalussy and his Committee of Wise Men submitted their Final Report on the Regulation of European Securities Markets to the Commission.
1 To deepen integration in the Union’s financial markets, they proposed to distinguish between the political choices and the more technical measures in the area of financial legislation; the former would be made by the legislators themselves, while the latter would be left to technical bodies.