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Revision of EU financial rules [EU Legislation in Progress]

Written by Rafał Mańko (2nd  edition),

Updated on 28.6.2018

© iQoncept / Fotolia

In September 2016, the Commission tabled a proposal for a new Financial Regulation which would replace the current one (together with its Rules of Application), as well as amend 15 other sectoral instruments each containing financial rules. The Commission justifies its proposal by the need to simplify EU financial rules and make them more flexible. In April 2018, the BUDG and CONT committees approved the outcome of trilogue negotiations on the main part of the proposal for a new Financial Regulation, and that is expected to be voted in plenary in July 2018. Prior to that, in December 2017, the co-legislators had already adopted part of the proposal relating to the reform of five sectoral regulations within the common agricultural policy.

See separate EPRS ‘At a glance’ note on the agricultural part, 2016/0282B(COD).

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Proposal for a Regulation of the European Parliament and of the Council on the financial rules applicable to the general budget of the Union and amending Regulation (EC) No 2012/2002, Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, EU No 1304/2013, (EU) No 1305/2013, (EU) No 1306/2013, (EU) No 1307/2013, (EU) No 1308/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014,(EU) No 283/2014, (EU) No 652/2014 of the European Parliament and of the Council and Decision No 541/2014/EU of the European Parliament and of the Council
Committees responsible: Budget (BUDG) and Budgetary Control (CONT) – jointly under Rule 55 COM(2016) 605

Ordinary legislative procedure (COD) (Parliament and Council on equal footing – formerly ‘co-decision’)

Rapporteurs: Ingeborg Gräßle (EPP, Germany)
Richard Ashworth (ECR, UK)
Shadow rapporteurs:




Petri Sarvamaa (EPP, Finland)
Inés Ayala Sender (S&D, Spain) / Vladimír Maňka (S&D, Slovakia)
Nedzhmi Ali (ALDE, Bulgaria)
Liadh Ní Riada (GUE/NGL, Ireland)
Bart Staes (Greens/EFA, Belgium) / Indrek Tarand (Greens/EFA, Estonia)
Marco Valli (EFD, Italy)
Next steps expected: First-reading vote in plenary

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