Financial regulation

Economy & Jobs 02-10-2020

McGuinness wants ‘full investigation’ into Wirecard scandal

The Commissioner-designate for financial services, Ireland's Mairead McGuinness, promised on Friday (2 October) a “full investigation” into the Wirecard fraud that has thoroughly shaken up Germany, to see why supervision failed.
Economy & Jobs 17-09-2020

LEAK: Commission plans new revolution for “open finance” in 2022

The European Commission wants financial firms and other companies to share more customer data to create a “broader open finance space" with new services for citizens, according to a draft of the Digital Finance Strategy seen by EURACTIV.
Economy & Jobs 16-09-2020

EU to throw London lifeline with extension to coveted clearing

The European Union is expected to throw the City of London an 18-month lifeline to continue clearing euro derivatives after Britain's unfettered access to the bloc ends in January, industry sources said on Tuesday (15 September).
Economy & Jobs 15-09-2020

Dombrovskis and McGuinness hearings scheduled for 12 October 

Commissioners-designate Valdis Dombrovskis and Mairead McGuinness will face their European Parliament hearings to take over Trade and Financial Services on 12 October, with EU lawmakers to decide on their nominations the following week.
Economy & Jobs 11-09-2020

Big euro economies push for strong cryptocurrency rules

The finance ministers of France, Germany, Italy, the Netherlands and Spain called on the European Commission to include “strong rules” in its upcoming cryptocurrency proposal, in particular for global digital tokens like Facebook’s Libra.
Economy & Jobs 10-09-2020

LEAK: EU to create ‘superbody’ of watchdogs to oversee digital currencies

The EU will set up a new college of supervisors, including national and European authorities, to oversee “significant” digital currencies including Facebook’s Libra, according to the European Commission’s cryptocurrency draft proposal seen by EURACTIV.
Economy & Jobs 08-09-2020

Von der Leyen proposes McGuinness as financial services Commissioner 

European Commission President Ursula von der Leyen proposed on Tuesday (8 September) Ireland's Mairead McGuinness to become financial services Commissioner, taking over from executive vice-president Valdis Dombrovskis, who will assume the trade portfolio vacated by Phil Hogan.
Economy & Jobs 23-06-2020

Commission to present ‘strong’ rules for Facebook’s Libra

The European Commission will present later this year new rules to develop a “sound” crypto-asset market in the EU, including for stablecoins such as Facebook’s digital currency Libra, financial services commissioner Valdis Dombrovskis, said on Tuesday.
Botswana 02-06-2020

Africa hits back against EU’s name and shame game

The question of tax avoidance and financial information exchange remains a sore point for EU-African relations, and the European Commission’s annual lists of ‘non co-operative’ countries on tax and money laundering laws have done little to improve the situation.
Economy & Jobs 18-05-2020

New capital markets union strategy to take central role in EU recovery

The European Commission will outline in the autumn a new package of initiatives to deepen the capital markets union, seen as a key tool to relaunch the EU economy in the aftermath of COVID-19, according to an internal document seen by EURACTIV.com.
Banking union 29-04-2020

Commission explores EU-wide crowdfunding project to finance recovery

The European Commission has held initial talks with various platforms involved in crowdfunding and proposed to lead a joint EU-wide crowdfunding campaign to help some of the most affected groups by the coronavirus pandemic, according to an internal document seen by EURACTIV.
Banking union 09-04-2020

Leak: Capitals call for ‘ambitious’ use of bank regulation to help with coronavirus

EU governments want the European Commission and regulators to take an “ambitious” approach when interpreting the flexibility of banking rules in the coronavirus period, to ensure that money flows to the real economy, according to a draft statement seen by EURACTIV.com.
Banking union 01-04-2020

Authorities call on bankers to adjust bonuses in response to pandemic

Banking authorities are calling on European banks to cut their bonuses for this year in order to reflect the impact of the coronavirus and dedicate more resources to the real economy.
Economy & Jobs 20-03-2020

Only five member states meet key money laundering deadline

A large majority of members states failed to introduce by 10 January public registers to reveal the true owners of all companies based in their countries, as part of the fight against money laundering, a report published on Friday (20 March) revealed.
Economy & Jobs 06-02-2020

This is how Europe is opening the floodgates to ‘green’ money

The European Commission launched on Wednesday (6 February) a consultation with member states, the European Parliament and other stakeholders to review the EU's fiscal rules, the Stability and Growth Pact.
Banking union 19-12-2019

So you think the banking crisis is over? Sorry to spoil your Christmas!

The stock market is flashing ever-stronger orange about the health of Europe’s banks. Yet the regulatory community tells us good news about its capital strength – despite unsustainably low profitability. Fingers crossed for a muddle through!

EU reaches milestone by agreeing on green criteria for finance

MEPs and the Finnish presidency of the EU Council agreed Thursday (5 December) on a taxonomy to determine what economic activities can be considered ‘green’, paving the way for billions of euros to be channelled into investments to fight climate change.

EU banking regulator: ‘No green economy if we encourage banks to be insolvent’

Europe wants to use all the tools available to transit toward a 'green' economy. But ‘green’ lending should not be incentivised by easing capital requirements for banks, the European Banking Authority chief, Jose Manuel Campa, told EURACTIV in an exclusive interview.
Economy & Jobs 12-11-2019

European banks face massive capital raising in challenging times

Europe will “faithfully” implement new international standards that will force its banks, struggling to regain investor trust, to raise around €135 billion in additional capital to face future crises, the European Commission said on Tuesday (12 November).
Economy & Jobs 08-11-2019

Commission wary of side effects of Libra regulation

The European Commission has called for a “proportionate” and differentiated approach to regulating digital currencies including Facebook’s Libra, as the EU needs to preserve is developing Fintech environment.
Banking union 08-11-2019

German plan brings ‘new impetus’ to banking union, Eurogroup says

Finance ministers on Thursday (7 November) welcomed a German initiative to unblock proposals for a common bank deposit guarantee scheme in the eurozone, but questioned Berlin's request to ask additional capital buffers in return for banks holding sovereign debt.
Economy & Jobs 06-11-2019

EU maintains option of blocking Facebook’s Libra

Europe is ready to “prevent the development” of risky digital currencies including Libra until all concerns have been addressed, according to the latest proposal to be discussed by EU finance ministers and seen by EURACTIV.com.

French financial sector poorly accounts for climate risks, says Bank of France

In a note published on Friday (25 October), the Bank of France noted that the risks associated with climate change are taken into account in a "partial and heterogeneous" manner by France's financial institutions. EURACTIV's partner La Tribune reports. 
Energy 07-10-2019

Will Germany block EIB plans to ditch natural gas?

The European Investment Bank wants to purge its loan books of fossil fuels, including natural gas, by 2020. Although the Bank's final decision is expected to be delivered on 15 October, resistance, especially from Germany, is brewing. EURACTIV Germany reports.
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