Brussels, 14 June 2007
Internal Market and Services Commissioner Charlie McCreevy said: "This expert group will help us to assess whether there is a clear-cut case for EU action on open-ended real estate funds. Would it create added value for investors and new opportunities for businesses? The group will put forward an evidence-based assessment of the current market, an appraisal of the different national regulatory regimes, and an analysis of the likely costs and benefits of any proposed solutions. I am confident that these important contributions to the debate will help us to form a clear view on the most appropriate and effective way forward".
The expert group's report will provide important input to policy reflection and serve as a starting point for debate and discussion with Member State authorities and other stakeholders. The report will represent the majority views of the experts and will not be considered as reflecting the views of the Commission. The group's task will be to advise the Commission by providing the following:
In compliance with the Commission decision on the composition of this group, experts and observers have been selected on the basis of nominations received from 67 individual applications. Representatives from all EU Member States that nominated candidates for the group have been included in the final composition.
The Commission will also involve representatives from the retail investor community and financial regulators in the work of the group. This will bring these important perspectives to the table and will help in the articulation of a considered response from these stakeholders to the final report of the expert group.
The list of expert group members is available at: