EU Newsletter

EU Newsletter · 18. September 2020
The EU has unveiled a public consultation on the review of the Consumer Credit Agreements which runs until October 6, 2020 and had been put under the limelight by the Covic-19 pandemic. Though focused on consumer credit, the consultation aims to consult credit providers, credit intermediaries and credit registers, industry associations, businesses that produce and sell consumer products (goods and services), distributors and importers, repair sector, large online platforms and other online...

EU Newsletter · 09. September 2020
European Commission Executive Vice President Valdis Dombrovskis will be the EU's new trade commissioner and Mairead McGuinness will be the new Irish commissioner with responsibility for financial services, Commission President Ursula von der Leyen announced on September 8, 2020. Dombrovsksis, who has served as acting trade commissioner since the resignation of Phil Hogan last month, will relinquish some of the current responsibilities in his broad economic portfolio. Mrs McGuinness has served...

EU Newsletter · 22. July 2020
The European Banking Authority (EBA) published on 21 July a list of the public guarantee schemes issued in response to the COVID-19 pandemic. This publication, which complements the information included in the EBA Report on the implementation of selected COVID-19 policies, aims at providing transparency to the public on the existence of public guarantees, as well as responding to the European Commission’s request for a stock-take of such guarantees. This list provides an overview of the 47...
EU Newsletter · 16. July 2020
The European Commission has welcomed a list of ‘best practices' agreed by the financial sector, and consumer and business organisations, to help further mitigate the impact of the coronavirus pandemic. It sets out concretely how different market participants can support citizens and businesses throughout the crisis. These ‘best practices' cover several issues, including: Payment moratoria for consumer and business loans, and for insurance contributions: these measures can help those facing...

EU Newsletter · 01. July 2020
The EU is temporarily adapting banking rules in order to maximise the capacity of banks to lend money and support households and businesses to recover from the COVID-19 crisis. The banking package adopted today provides targeted and exceptional legislative changes to the capital requirements regulation (CRR 2). These changes will allow credit institutions to fully play their role in managing the economic shock that stems from the COVID-19 pandemic by fostering credit flows. More specifically,...

EU Newsletter · 06. June 2020
Digital EU unveils its consultation on the Digital Services Act Package The Commission launched on June 3rd, 2020 its awaited public consultation on the Digital Services Act. The consultation, open until 8 September, covers issues such as safety online, freedom of expression, fairness and a level-playing field in the digital economy. Executive Vice-President Margrethe Vestager said: “The Internet presents citizens and businesses with great opportunities, which they balance against risks that...

EU Newsletter · 18. May 2020
Trying to fight against late payments and helping make sure that companies are paid on time is a key initiative promoted by the European Commission already in with the adoption of the Late Payments directive. Since this first time, the EU has also been working on adapting the late payments directive and also on ensuring it was correctly implemented by the various Member States, for example through various workshops and round table work on Late Payments attended by FEBIS representatives over the...

EU Newsletter · 13. May 2020
European Commission consults on its Action Plan for a comprehensive Union policy on preventing money laundering and terrorist financing On May 7, the European Commission unveiled a new public consultation its Action Plan for a comprehensive Union policy on preventing money laundering and terrorist financing The objective of the consultation is to seek comments on the 6 pillars outlined by the draft EC Action Plan on AML which are: · Ensuring the effective implementation of the existing EU...

EU Newsletter · 17. April 2020
European Commission unveils consultation on Digital Finance On April 3rd, the European Commission unveils a new public consultation on a Digital Finance, which will feed input into the EU new Digital Finance Strategy planned for Q3 2020. It is crucial that Europe grasps all the potential of digital age across the economy, including in the financial sector. As set out in the Commission work programme, given the broad and fundamental nature of the challenges ahead for the financial sector, the...

EU Newsletter · 14. April 2020
SPOTLIGHT OF THE MONTH The pandemic of the Covid-19 has spread out everywhere on the planet and has already had big consequences on companies and on people globally. The focus is of course put on getting health resources at their maximum level and try to put brakes on the evolution of the epidemy, and many countries have adopted tight lockdown policies with people urged to stay at home to avoid dissemination of the virus. Aside from the health issue, this also has dramatic consequences for ...

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