Financial regulation

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.
Economy & Jobs 05-09-2018

Europe moves towards a common approach to regulate cryptoassets

European decision-makers and regulators are progressing towards an EU approach for dealing with cryptoassets, digital assets that use cryptography such as Bitcoin and represent a booming market still viewed with concern by financial supervisors.
Economy & Jobs 11-06-2018

Tax evasion deprives the EU of 20% of corporate taxes

Economists consider, based on tax havens’ statistics such as Bermuda or Ireland, that 40% of multinational companies' profits avoid taxation. The EU would thus be deprived of a fifth of its income from companies. EURACTIV.fr reports.
Economy & Jobs 29-05-2018

Spain’s former central banker: ‘De Guindos led us to disaster’

A former governor of the Bank of Spain told EURACTIV that Luis de Guindos has the right CV to become vice-president of the ECB, a post he will take up later this week. But the ex-minister’s “brutally wrong” decisions led the country to the “disaster” of the bailout, he added.

EU tables ground-breaking ‘low-carbon benchmark’ for green finance

The European Commission presented on Thursday (24 May) a set of proposals aimed at boosting private investment in low-carbon technologies like renewable energies while increasing transparency in sustainable finance to avoid green-washing.
Economy & Jobs 24-05-2018

Commission’s bond-backed product gets lukewarm reception

Financial representatives poured cold water on Thursday (24 May) on the European Commission’s proposal to create sovereign bond-backed securities (SBBS), insisting that not all the elements exist yet for a successful market for the product.
Economy & Jobs 17-05-2018

Commission’s Eurobond alternative still viewed with scepticism

The European Commission has said that the zero-risk weight of its forthcoming sovereign bond-backed securities proposal will be a ‘game changer’, but member states and the financial sector remain sceptical about how the new asset could work in practice.

MEPs ask to check financial sector’s investments against climate goals

EU legislators have proposed extending the European Supervisory Authorities’ (ESAs) powers to include checking the financial institutions’ investment portfolio alignment with the Paris Agreement on climate change.
City of London skyline at sunset
Brexit 24-04-2018

Commission defends ‘equivalence’ with UK for financial services

European Commission Vice-President Valdis Dombrovskis told the UK’s financial sector on Tuesday (24 April) that the EU and UK regimes could co-exist together after Brexit, but warned that London would not have a say in the decision-making process.
Banking union 10-04-2018

ECB admits negative effect of monetary stimulus on German and Spanish banks   

Amid growing concerns about the profitability of eurozone banks, the ECB said that the monetary decisions adopted after the financial crisis had a neutral effect on the money houses of the single currency area, except for German and Spanish lenders.
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Economy & Jobs 03-04-2018

EIB needs to commit to responsible taxation policy, NGO coalition says

On the second anniversary of the Panama Papers tax scandal, the European coalition of development and environmental non-governmental organisations Counter Balance calls the European Investment Bank (EIB) to develop a comprehensive and responsible taxation policy.
Economy & Jobs 28-03-2018

Consumers hail proposal to limit transaction costs in EU

The European Commission’s proposals to limit transfer costs to non-euro members and currency conversions abroad were welcomed by consumer and transparency activists, although NGOs complained that it would not benefit migrants’ remittances.

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