Financial regulation

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.
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.
Economy & Jobs 04-09-2019

EU member states to look into Facebook’s controversial Libra

The Economic and Financial Committee (EFC), which brings together the EU’s member states, has requested an analysis note from the European Commission to further look into the risks posed by Facebook’s controversial digital currency Libra and the ways to regulate it.
Digital 26-08-2019

French minister eager to hold e-commerce platforms to account for VAT fraud

France's minister of public action and accounts, Gérald Darmanin, wants to reform VAT collection for e-commerce platforms. The French minister also wishes to draw inspiration from the EU's tax haven blacklist to establish a similar one for fraudulent platforms. EURACTIV's partner La Tribune reports.
[TaxRebate.org.uk/Flickr]
Economic governance 22-08-2019

Low and negative interest rates: remedy and threat for Europe’s public finances

From Saturday (24 July) onwards, G7 leaders will discuss the global economic situation in Biarritz, France. The discussion will likely focus on extremely low-interest rates, which represent both an opportunity and a risky temptation for over-indebted European countries. EURACTIV France reports.
Economy & Jobs 25-07-2019

More Europe needed to fight money laundering, Commission argues

The EU needs more competences to effectively fight money laundry, Vice-President for the Euro Valdis Dombrovskis and Commissioner for Justice Věra Jourová told reporters on Wednesday (24 July) during the presentation of a series of reports on financial crimes.
Economy & Jobs 18-07-2019

G7 says Facebook’s Libra poses ‘serious risks’

The G7 listed on Thursday (18 July) the requirements Facebook’s new ‘coin' Libra should meet, as regulators are increasingly wary of the “serious risks” posed by this digital currency.

Leak: These are the five priorities for the next finance Commissioner

A new strategy for the capital markets union, fintech, financial stability, sustainable economy and Brexit are the priorities listed for the next financial services commissioner, according to the memo drafted by European Commission officials and seen by EURACTIV.com.
Economy & Jobs 19-04-2019

EU anti-tax fraud quest goes up a notch

The EU's anti-tax fraud programme, Fiscalis, got a shot in the arm from MEPs on Wednesday (17 April), when the European Parliament approved a revised version with a bigger budget. EURACTIV Germany reports.
Economy & Jobs 03-04-2019

EU tells Britain to reclaim illegal tax breaks offered to multinationals

A preferential UK tax scheme designed to attract multinational companies partially violated EU state aid rules, the European Commission concluded on Tuesday (2 April), calling on British authorities to recover the undue tax breaks, only a few days away from Brexit.  
Economy & Jobs 02-04-2019

EU watchdog gains new powers to fight money launderers

Member states on Monday (1 April) approved giving new powers to the European Banking Authority (EBA) to fight money laundering and terrorism financing, as part of an improvement of the European supervisory agencies (ESAs).
Brexit 27-03-2019

Brexit ‘not imminent risk to financial stability’, says bank watchdog 

Despite the volatility that would trigger the UK’s departure from the EU, Brexit does not represent an “imminent risk” to financial stability, according to Single Resolution Board President Elke König.
Economy & Jobs 12-03-2019

EU tax haven blacklist triples to include 15 countries

EU finance ministers approved on Tuesday (12 March) the addition of 10 more countries to the EU's blacklist of tax havens, which currently includes only five jurisdictions and aims to help prevent tax fraud or evasion.
Economy & Jobs 14-02-2019

EU court rules against Commission on Belgium ‘excess profit’ tax scheme

The system of exception for the excess profit of Belgian entities that are part of multinational corporate groups does not constitute illegal state aid, contrary to the European Commission's previous assessment, the EU's top court ruled on Thursday (14 February).
Digital 11-01-2019

Cryptoasset investors exposed to substantial risks, two EU reports find

Cryptoassets are dangerously unregulated and may give rise to criminal activities, according to two recent assessments published by the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA).
Economy & Jobs 25-10-2018

Bruegel: EU needs anti-money laundering body with staff of hundreds

The European Union should set up a new agency to counter money laundering after a series of high-profile cases at banks bared weaknesses in the system, an influential think-tank said in a report, urging full disclosure of fines imposed on wrongdoers.
Economy & Jobs 04-10-2018

BNP Paribas: A rudderless juggernaut?

In a thorough and critical documentary, two filmmakers raise questions about the disproportionate power of BNP Paribas, one of Europe’s largest banks. The documentary is a case study calling into question the credibility of European banking regulation. EURACTIV France reports.
Economy & Jobs 14-09-2018

The unfinished work to avoid another Lehman Brothers

In the ten years that have passed since the fall of Lehman Brothers, Europe has improved its banking regulation but the financial system remains vulnerable. Europe commemorates the tenth anniversary with a solid growth. But experts consulted by EURACTIV.com warn...

EU admits anti-money laundering rules inefficient, prepares for improved supervision

As recent scandals proved that the new anti-money legislation falls short of monitoring financial flows, the EU is leaning toward stepping up the supervision and enforcement of its rules.

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