{
  "url": "https://openlegislation.uk/eu-decision-2006-288/article-3",
  "json_url": "https://openlegislation.uk/eu-decision-2006-288/article-3.json",
  "legislation": "eudn/2006/288",
  "legislation_title": "Commission Decision of 30 March 2006 setting up a European Securities Markets Expert Group to provide legal and economic advice on the application of the EU securities Directives (2006/288/EC)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2006-288",
  "path": "article/3",
  "kind": "article",
  "number": "3",
  "heading": "Composition — Appointment",
  "text": "1. The group shall comprise a maximum of 20 members.\n2. The members of the group shall be appointed by the Commission on the basis of applications in response to a call for expressions of interest by high level experts with practical experience from business and academic communities and civil society, including consumers or investors representatives, involved in the investment services and the securities industry.\n3. The Commission shall assess the eligibility of individual experts who have responded to the call for expression of interest against the following criteria:\nproven expertise and recent practical experience, including at European or international level, in areas relevant to the investment services and securities industry and/or, in the impact of the EU securities directives in those areas;\nthe ability of the individual expert to shape the views of the business and academic communities and civil society in respect of the matters covered by the mandate;\nresponses to the call for interest should be accompanied by material demonstrating that the individual expert meets the conditions mentioned above;\nindividual experts should also be proficient in a language which is customary in the sphere of finance at a level which allows them to contribute to discussions and report drafting in that language.\n4. In selecting experts, the Commission shall also have regard to the need to encompass expertise covering all the relevant functions and products within the securities industry.\nIn addition, the Commission shall ensure a broad geographical representation in the group with experts who have direct knowledge of a broad range of EU markets, including national markets, to the greatest extent possible on the basis of the responses received.\n5. The following provisions shall apply:\nthe members are appointed in a personal capacity, excluding the possibility for participation of alternates/substitutes in the group's deliberations, and are required to advise the Commission independently of any professional connections or other outside influence;\nthe members are appointed for a two-year renewable mandate;\nthe members are expected to participate actively in the group's meetings and in at least one of the subgroups mentioned in Article 4(2);\nthe members who are no longer able to contribute effectively to the group’s deliberations, who resign or who do not respect the conditions of this Article or Article 287 of the Treaty establishing the European Community may be replaced by the Commission for the remaining period of their mandate;\nthe names of members appointed by the Commission will be published on the Internet site of DG Internal Market and Services. The names of members are collected, processed and published in accordance with the provisions of Regulation (EC) No 45/2001 of the European Parliament and of the Council of 18 December 2000 on the protection of individuals with regard to the processing of personal data by the Community institutions and bodies and on the free movement of such data.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "OJ L 8, 12.1.2001, p. 1."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2006/288/article/3",
    "retrieved_at": "2026-11-01T15:17:36.671498+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}