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| European Union - Financial Conglomerates Directive CHAPTER III: POWERS CONFERRED ON THE COMMISSION AND COMMITTEE PROCEDURE Article 20 Powers conferred on the Commission 1. The Commission shall adopt, in accordance with the procedure referred to in Article 21(2), the technical adaptations to be made to this Directive in the following areas: (a) a more precise formulation of the definitions referred to in Article 2 in order to take account of developments in financial markets in the application of this Directive; (b) a more precise formulation of the definitions referred to in Article 2 in order to ensure uniform application of this Directive in the Community; (c) the alignment of terminology and the framing of definitions in the Directive in accordance with subsequent Community acts on regulated entities and related matters; (d) a more precise definition of the calculation methods set out in Annex I in order to take account of developments on financial markets and prudential techniques; (e) coordination of the provisions adopted pursuant to Articles 7 and 8 and Annex II with a view to encouraging uniform application within the Community. 2. The Commission shall inform the public of any proposal presented in accordance with this Article and will consult interested parties prior to submitting the draft measures to the Financial Conglomerates Committee referred to in Article 21. |
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