The EESC issues between 160 and 190 opinions and information reports a year.
It also organises several annual initiatives and events with a focus on civil society and citizens’ participation such as the Civil Society Prize, the Civil Society Days, the Your Europe, Your Say youth plenary and the ECI Day.
The EESC brings together representatives from all areas of organised civil society, who give their independent advice on EU policies and legislation. The EESC's326 Members are organised into three groups: Employers, Workers and Various Interests.
The EESC has six sections, specialising in concrete topics of relevance to the citizens of the European Union, ranging from social to economic affairs, energy, environment, external relations or the internal market.
The proposal provides sound measures and instruments for addressing the clear shortcomings and imbalances in our system. In particular, the EESC considers that the new rules:
isolate the counterparty risk relating to the OTC market, making it external to banks, and manage it within dedicated organisations,
achieve consolidation of data on all OTC trading, not just that cleared through central counterparties (CCP),
give no recommendation regarding the future CCP market structure. Thus, either the existing structures in the individual Member States or a small number of large, Europe-wide bodies will emerge.
One of the primary concerns is the costs of implementing the regulation, which appear to have been underestimated and will come at a time when financial institutions are already under pressure in terms of legislation, profitability and costs.
These costs are inevitably passed on to investors and clients.
Lastly, the most important implications of the new regulation include extending the asset classes concerned: it is planned to apply the regulation to all other financial instruments at the same time as shares.