The Legal Affairs Committee of the European Parliament has produced a report on Better Regulation in the European Union. This is in response to the European Commission’s 2006 Communication concerning a ‘Strategic Review of Better Regulation in the European Union’. The Better Regulation initiative aims to improve the quality of Community legislation in terms of maximising its clarity, accessibility and impact whilst minimising its costs.

In the Report it states that the European Parliament strongly supports the process of Better Regulation with a view to strengthening the effectiveness, efficiency, coherence, accountability and transparency of EU law but goes on to expand on the methods necessary for achieving it. The Report also states that the European Parliament urges the European Commission to make all necessary efforts to streamline and modernise the stock of existing EU legislation through an adequate simplification strategy. The Report also briefly comments on the experience of the Lamfalussy procedure in financial markets regulation, regarding it as a useful mechanism for a dynamic legislative process. The Report aims to inform a future legislative resolution from the European Parliament in due course.

View Report on better regulation in the European Union, 6 August 2007