The European Commission today (4 April) presented various initiatives intended to temper regulation and cash requirements firms need to satisfy in order to trade sophisticated financial products, aimed at boosting the European economy.
The European Commission has adopted a proposal on financial market infrastructure that aims to manage the risk of one or more parties defaulting on transactions, in an attempt to learn from lessons provided by the global financial crisis. EURACTIV’s partner Milano Finanza reports.
The EU’s Markets in Financial Instruments Directive (MiFID) II is supposed to prevent excessive food speculation. But Oxfam says the financial sector is fighting stricter rules, with grave repercussions. EURACTIV Germany reports.
The European Union must shift more of the cost of a new rescue fund for banks onto the region's biggest lenders, lawmakers told the outgoing commissioner for Internal Market and Services Michel Barnier yesterday (22 September).
New rules coming into force in Europe this week to shine more light on the $700 trillion (€513 trillion) derivatives markets will take years to produce a clearer picture of these complex products which were at the heart of the financial crisis.
Ambitious plans for an EU-US free-trade agreement may be put in jeopardy by Washington's failure to finalise a deal coordinating rules in the €460 trillion derivatives market, the EU's financial markets chief has warned.
European Union diplomats and the European Parliament agreed yesterday (9 February) to overhaul regulation of the multi-trillion euro derivatives market, a move that will make it easier to control one of the most opaque areas of finance.
EU countries broke a deadlock in talks to crack down on the derivatives market, as France and Britain resolved a turf war over how much say a pan-European watchdog can have over national markets, diplomatic sources said.
British chancellor George Osborne backed down on one of his key demands that all derivatives trading be immediately covered by new EU rules but won some smaller concessions on controlling a market once described as the "Wild West".
The UK government has found itself isolated in its opposition to draft EU derivatives rules as finance ministers are expected to express their "unanimous" backing to the European Commission's proposal on Tuesday (4 October).
The European Central Bank was caught by surprise last night after learning that the UK government was taking legal action against the bank's rules for clearing houses, which may rule out non-eurozone countries from overseeing trades.
French President Nicolas Sarkozy yesterday (14 June) called for tighter controls on the speculators he blames for spiralling food and energy prices, spelling out reforms that would put more trading under the thumb of regulators.
The European Parliament's economic affairs committee has voted overwhelmingly in favour of a draft law to standardise derivatives so they can be moved through central clearing houses to reduce risk and improve transparency.
In a last ditch effort, France has managed to beef up an EU proposal on commodities and raw materials which tries to make a link between speculation in financial markets and volatile commodity markets, EURACTIV has learned.
The multi-trillion dollar derivatives market will be moved on to exchanges and will have to be cleared by a third party, according to a European Commission proposal to be unveiled today (15 September).