The European Commission has adopted a proposal for a Regulation that is intended to simplify the existing procedures for labelling and marketing animal feed and pet food. The compound feed and pet food industry represents a turnover of approximately EUR 50 billion in the European Union. The proposal seeks to make the system more efficient and consumer-friendly, to encourage innovation and to promote the competitiveness of the EU livestock sector. Pre-market authorisations are to be made proportionate to risks and will no longer be based on pre-defined feed groups. Specific mandatory labelling requirements are laid down for feed materials, compound feed (including pet food) and "dietetic" feed. The initiative for updating the European Union's list of feed materials is to be transferred from the legislator to stakeholders.