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Participation in EU Rule-MakingA Rights-Based Approach$
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Joana Mendes

Print publication date: 2011

Print ISBN-13: 9780199599769

Published to Oxford Scholarship Online: September 2011

DOI: 10.1093/acprof:oso/9780199599769.001.0001

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The ‘Lamfalussy Process’, Consultation, and Participation Rights

The ‘Lamfalussy Process’, Consultation, and Participation Rights

Chapter:
(p.268) Chapter 6 The ‘Lamfalussy Process’, Consultation, and Participation Rights
Source:
Participation in EU Rule-Making
Author(s):

Joana Mendes

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199599769.003.0006

Chapter 6 analyses the role of consultation procedures in the context of the Lamfalussy procedure. It contrasts consultation and rights-based participation, thereby building a bridge between the political and the legal strands of participation. This chapter contributes to clarifying the reasons why participation has become one of the principles of European governance. It shows how rights-based participation has been quite a distant concern in the setting up of consultative procedures, specifically, in the area of financial services, and, in general, in the consultation practices that pervade European governance. At the same time, the specificities of consultation in the field of financial services are highlighted. One specific decisional procedure covered by the Lamfalussy process — the adoption of accepted market practices — is analysed. It illustrates the problems ensuing from the recognition of participation rights in rulemaking procedures. Chapter 6 further elaborates on the solutions to circumvent the contingencies of participation proposed in Chapter 2.

Keywords:   Lamfalussy procedure, consultation, European governance, financial services, rights-based participation, contingency of participation, market abuse, accepted market practices

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