Recommendations
The eleven recommendations with which the report ends focus on how financial services legislation can maintain the flexibility to adapt to changing global market conditions. It urges continued use of the Lamfalussy process, of wide consultation and of correct implementation and enforcement at member state level.The report includes a table showing levels of transposition for each measure as at October 2005.
Part II
The second part of the evaluation process involves a full legal and economic impact assessment of the legislation. It will be carried out over the next two years, with a full report expected in 2008/9.


