Tag: Michel Barnier

Funds offering short-term financing to governments and companies – but which remain unregulated and in the “shadow” of the mainstream banking sector – will be forced to create new cash buffers under EU proposals published yesterday (4 September) by the European Commission.

The European Commission may apply the EU’s mandatory capital rules for banks to a wider set of institutions to cover risks in "dark corners" of the financial system, says a draft EU law to be presented next Wednesday (4 September). The regulatory drive is coordinated with the G20, which is set to endorse a new global set of rules at a summit next week.

The European Commission tabled proposals yesterday (24 July) aimed at reducing the cost of using payment cards for consumers, setting new fee limits at 0.2% and 0.3% of the transaction value for debit cards and credit cards respectively.

The EU Commissioner for the internal market and services, Michel Barnier, told French journalists in Brussels yesterday (18 July), that he “was very struck by an unusual campaign – an American campaign” he faced from MasterCard.

Europeans will find it easier to open and switch bank accounts and see what fees they are being charged under new rules proposed by the European Commission today (8 May).

SPECIAL REPORT / Proposals for disclosure of non-financial information by large companies to beef up corporate social responsibility (CSR) launched by the Commission yesterday (16 April) go too far for business interests, but not far enough for NGOs.

The European Union and the United States agreed on Thursday (14 February) to implement the new global Basel III capital adequacy rules for banks as soon as possible, EU financial services chief Michel Barnier said after a meeting in Washington.

Michel Barnier, the EU's Internal Market Commissioner, has called on French President François Hollande to open a debate on what the country wants from the EU, warning that mainstream political parties risked losing the 2014 European elections if they failed to do so.

European Council President Herman Van Rompuy has appealed to EU heads of states to show political will and implement the Single Market Act II, according to a leaked letter seen by EurActiv.

The European Commission yesterday (3 October) presented a new recipe to improve the functioning of the internal market with a focus on job-creation and growth in its Single Market Act II plan.

Following concerns over financial irregularities and difficult online licencing, the European Commission has proposed a new directive requiring copyright collecting societies to increase their transparency, efficiency and management of revenues. EurActiv France reports.

Commissioner for the Single Market Michel Barnier is expected to bring forward changes to his market abuse directive and regulation within the coming weeks, the Financial Times said Monday.

The European Parliament is likely to ban bankers’ bonuses that exceed salaries, after the EU banking regulator found inconsistencies in the calculation between rewards and risk-taking.

The European Union could block non-EU companies from bidding for government contracts if European firms continue to struggle to win public tenders abroad, the European Commission said today (21 March), in a move that could sharply escalate trade tensions.

The European Commission will clarify tomorrow (30 November) the details of a plan that is aimed at profoundly changing the way audits are carried out in the 27-nation bloc, EurActiv has learned.

The European Commission will unveil plans on Tuesday (15 November) to further tighten controls on credit rating agencies, but will fall short of proposing an alternative European agency due to the lack of “credibility” such an institution would carry, according to the latest draft seen by EurActiv.