The EU Parliament's ECON committee has published a draft report on the Green Paper on Retail Financial Services, where it supports the EU Commission's green paper. The report endorses the EU Commission's 'dynamic approach to policy making' in targeting a number of areas in the paper which might complement current legislation were these rules introduced. The ECON Committee has underlined the importance of getting level two measures 'fit and proper' ahead of time and has stated that the EU Commission Green Paper is timely since digitalization of financial services is fast opening new market possibilities. The ECON Committee does state in its report, however, that the ideas set out in the Green Paper would need to be underpinned by empirical information before embarking on a legislative process. The challenges (amongst others) of introducing legislation in this field, according to the report, are making identification work in practice and ensuring that legislative initiatives proposed will be technology and business neutral to allow for change.