Financial Services Committee (FSC) - Main contents

The FSC works closely with the Economic and Financial Committee (EFC), especially in preparing Economic and Financial Affairs Council (ECOFIN) meetings. It:

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  provides a forum for cross-sectoral strategic reflection
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  helps define the medium and long-term strategy for financial services issues
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  considers sensitive short-term issues
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  assess progress and implementation
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  provides political advice and oversight on both internal (such as single market) and external (such as WTO) issues.

Composition

The FSC is composed of high-level representatives of the member states and the European Commission (DG MARKT). The member state whose representative is appointed chairperson has one additional representative on the Committee for the chairperson's period of office. The European Central Bank and the relevant EU committees of regulators have observer status, as does each of the accession countries until the date of their accession, when they become full FSC members.