What EU legislators call “Level 2” rulemaking is a process where technical rules and standards are drafted by officials in consultation with stakeholders, often dominated by the financial industry. Level 2 is much harder for citizens to follow than Level 1, which refers to the primary legislation agreed by MEPs and member states, often under intense public scrutiny.
On 2 April, 1pm CET, Finance Watch’s Senior Public Affairs Officer, Katarzyna Hanula-Bobbitt, made a citizen’s tour of how Level 2 works.