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European Commission Work Programme 2018. February 2018.
Every year, the European Commission (EC) presents a work programme that establishes its key initiatives for the following year. The work programme allows it to inform citizens and institutional agents about the Commission’s political priorities and how these will be converted into concrete actions. In October 2017, the EC presented its work programme for 2018.…
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Proposal of the European Commission on the Review of the European System of Financial Supervision. February 2018.
On 20 September 2017, the European Commission (EC) published a regulatory initiative with the intention of strengthening the European financial supervision framework in order to achieve a greater level of integration of financial markets across the European Union (EU). The proposal entails a reform of the European System of Financial Supervision, created as a result…
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ESMAs Technical Advice to the European Commission on the Short Selling Regulation. February 2018.
This 14 March marks the fifth anniversary of the publication of the Regulation of the European Union (EU) on short selling and certain aspects of credit default swaps (REGULATION (EU) No 236/2012, OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL, of 14 March 2012). This Regulation has led to greater coordination of the activities of…
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Good practices for the termination of investment funds. February 2018.
On 23 November 2017, the International Organisation of Securities Commissions (IOSCO) published a document on good practices for the termination of investment funds. These practices only apply to voluntary termination of investment funds as legislation at a national level in most jurisdictions addresses involuntary terminations. Voluntary terminations occur when an investment fund, although still solvent,…
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Opinions issued by the European Securities and Markets Authority to support supervisory convergence in the context of the United Kingdoms withdrawal from the European Union. October 2017.
On 29 March 2017 the United Kingdom (UK) notified the European Council of its intention to leave the European Union (EU) in accordance with the procedures set out in Article 50 of the Treaty on European Union. In this new context of impending “Brexit” the European Securities and Markets Authority (ESMA) anticipated a surge in…
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European Commissions public consultation on the operations of the European Supervisory Authorities. June 2017.
On 21 March the European Commission announced a consultation on the future direction of the three European Supervisory Authorities (ESAs): the European Banking Authority, EBA, the European Insurance and Occupational Pensions Authority, EIOPA, and the European Securities Markets Authority, ESMA. The consultation forms part of the Commission’s mandatory three-year review of the operations of the…
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European Commission public consultation on FinTech: a more competitive and innovative European financial sector. June 2017.
The European Commission (the “Commission") has issued a document for consultation, running from 23 March to 15 June, on FinTech and achieving a more innovative and competitive European financial sector. The connected Digital Single Market is one of the priorities of the current Commission presidency, as stated in its 2015 communication “A Digital Single Market…
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Report on financial technology (FinTech). June 2017.
In February, the International Organisation of Securities Commissions (IOSCO) published a research report on the evolution of FinTech –technology affecting financial services– and how it interacts with financial markets regulation. The term FinTech is used to describe a variety of innovative business models and emerging technologies that have the potential to transform the financial services…
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Mid-term review of the Capital Markets Union action plan. June 2017.
In September 2015, the European Commission launched its Capital Markets Union (CMU) Action Plan to boost jobs and growth. On 14 September 2016 the Commission published Capital Markets Union – Accelerating Reform, a communication that reaffirmed its commitment to CMU and announced a review of priorities to step up the pace of planned reforms. On…
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European Commission report to the European Council and Parliament on national barriers to capital flows. Junio 2017.
In March the European Commission published its report “Accelerating the capital markets union: addressing national barriers to capital flows” on existing national barriers to capital flows within the capital markets union (CMU). Building integrated financial markets as part of the EU requires not only important decisions at EU level but also commitments by each Member…
