17

result(s)

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Publication type
Policy area
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Keyword
Date

EU-Mapping 2017: Systematic overview on economic and financial legislation

14-07-2017

This study provides a graphic overview on core legislation in the area of economic and financial services. The presentation essentially covers the areas within the responsibility of the Economic and Monetary Affairs Committee (ECON); hence it starts with core ECON areas but also displays neighbouring areas of other Committees' competences which are closely connected to and impacting on ECON's work. It shows legislation in force, proposals and other relevant provisions on banking, securities markets ...

This study provides a graphic overview on core legislation in the area of economic and financial services. The presentation essentially covers the areas within the responsibility of the Economic and Monetary Affairs Committee (ECON); hence it starts with core ECON areas but also displays neighbouring areas of other Committees' competences which are closely connected to and impacting on ECON's work. It shows legislation in force, proposals and other relevant provisions on banking, securities markets and investment firms, market infrastructure, insurance and occupational pensions, payment services, consumer protection in financial services, the European System of Financial Supervision, European Monetary Union, euro bills and coins and statistics, competition, taxation, commerce and company law, accounting and auditing. Moreover, it notes selected provisions that might become relevant in the upcoming Article 50 TEU negotiations. This document was provided by Policy Department A on request of the ECON Committee.

External author

Prof Katja LANGENBUCHER, Research Center SAFE and Goethe University Frankfurt Prof Tobias TRÖGER, Research Center SAFE and Goethe University Frankfurt Lara MILIONE, Research Center SAFE and Goethe University Frankfurt Andreas ROTH, Research Center SAFE and Goethe University Frankfurt

Level-2 measures on draft RTS under IFR (Interchange Fees Regulation)

20-06-2017

This briefing has been drawn up to support ECON’s work on the scrutiny of delegated acts, in particular as regards the discussion of 20 June 2017 on the draft European Banking Authority (EBA) RTS under Regulation (EU) 2015/751 on interchange fees for card-based payment transactions (IFR) . The empowerment for the adoption of the RTS – introduced following an amendment by the European Parliament – is the only empowerment for a level 2 measure under the IFR.

This briefing has been drawn up to support ECON’s work on the scrutiny of delegated acts, in particular as regards the discussion of 20 June 2017 on the draft European Banking Authority (EBA) RTS under Regulation (EU) 2015/751 on interchange fees for card-based payment transactions (IFR) . The empowerment for the adoption of the RTS – introduced following an amendment by the European Parliament – is the only empowerment for a level 2 measure under the IFR.

EBA Draft Regulatory Technical Standards on Strong Customer Authentication and Secure Communication

22-03-2017

Art. 98 PSD2 mandated the European Banking Authority (EBA) to prepare draft Regulatory Technical Standards on strong customer authentication and secure communication (RTS on SCA&SC) in close cooperation with the ECB. After extensive consultation, the EBA finalised the draft on 23 February 2017 in the light of the feedback received. The final draft RTS balances the possibility for new providers and new payment services, with the introduction of a framework that ensures common IT approaches which ensure ...

Art. 98 PSD2 mandated the European Banking Authority (EBA) to prepare draft Regulatory Technical Standards on strong customer authentication and secure communication (RTS on SCA&SC) in close cooperation with the ECB. After extensive consultation, the EBA finalised the draft on 23 February 2017 in the light of the feedback received. The final draft RTS balances the possibility for new providers and new payment services, with the introduction of a framework that ensures common IT approaches which ensure a high level of security, e.g. by proper authentication of the payer.

Delegated and Implementing Measures in the Banking Field - Forthcoming Level 2 Acts under CRD IV and CRR

23-02-2017

This briefing has been prepared to support ECON’s work on scrutiny of delegated acts, in particular the discussion of 28 February 2017 on various forthcoming draft measures (Delegated Acts (DAs)), and in particular Regulatory Technical Standards (RTS)) under the Capital Requirements Directive 2013/36/EU (CRD IV) and the Capital Requirements Regulation (EU) No 575/2013 (CRR).

This briefing has been prepared to support ECON’s work on scrutiny of delegated acts, in particular the discussion of 28 February 2017 on various forthcoming draft measures (Delegated Acts (DAs)), and in particular Regulatory Technical Standards (RTS)) under the Capital Requirements Directive 2013/36/EU (CRD IV) and the Capital Requirements Regulation (EU) No 575/2013 (CRR).

Regulatory Technical Standards on Strong Customer Authentication and Secure Communication

15-11-2016

This briefing is drawn up to support ECON’s work on scrutiny of delegated acts, in particular the discussion taking place on 29 November 2016 on the draft Regulatory Technical Standards (RTS on Strong Customer Authentication and Secure Communication ‘SCA&SC’) under the revised Payment Services Directive (PSD2) 2015/2366 (Art.98).

This briefing is drawn up to support ECON’s work on scrutiny of delegated acts, in particular the discussion taking place on 29 November 2016 on the draft Regulatory Technical Standards (RTS on Strong Customer Authentication and Secure Communication ‘SCA&SC’) under the revised Payment Services Directive (PSD2) 2015/2366 (Art.98).

Information on IFRS (International Accounting Standards)

01-09-2016

International Financial Reporting Standards (IFRS) are issued by an international private organisation, the International Accounting Standards Board (IASB). The EU has to endorse IFRS 'as they are' in order to be fully compliant. Non-endorsement or carve-outs are possible, but EU firms have still to comply with the full IFRS if they want to benefit from IFRS’ global acceptance, e.g. in the US, permitting a European company to use IFRS only without the need to adapt the accounting to national generally ...

International Financial Reporting Standards (IFRS) are issued by an international private organisation, the International Accounting Standards Board (IASB). The EU has to endorse IFRS 'as they are' in order to be fully compliant. Non-endorsement or carve-outs are possible, but EU firms have still to comply with the full IFRS if they want to benefit from IFRS’ global acceptance, e.g. in the US, permitting a European company to use IFRS only without the need to adapt the accounting to national generally accepted accounting principles (national GAAP).One important draft standard under discussion is IFRS 9 prescribing how financial instruments are accounted for. It shall replace the current standard (IAS 39) which was criticised for not taking declining values of financial assets during the financial crisis adequately into account. This leaflet lists the publications which have been prepared for the discussion of IFRS.

Banking Union: Essential Terms and Technical Abbreviations

15-07-2016

This abbreviation list lists and explains relevant terms frequently used in the area of documents related to the Banking Union, more specifically in relation to the Single Supervisory Mechanism (SSM), the Single Resolution Mechanism (SRM) and the application of the Capital Requirements Directive (CRD IV) and the Capital Requirements Regulation (CRR). The list of abbreviations may be updated and extended in order to take account of new developments and needs. This document was provided by Policy ...

This abbreviation list lists and explains relevant terms frequently used in the area of documents related to the Banking Union, more specifically in relation to the Single Supervisory Mechanism (SSM), the Single Resolution Mechanism (SRM) and the application of the Capital Requirements Directive (CRD IV) and the Capital Requirements Regulation (CRR). The list of abbreviations may be updated and extended in order to take account of new developments and needs. This document was provided by Policy Department A at the request of the ECON Committee.

IFRS Accounting Standards Endorsement Procedure

16-05-2016

International Financial Reporting Standards (IFRS) are issued by an international private organisation, the International Accounting Standards Board (IASB). In order to become binding law in the EU, they must be ‘endorsed’ in a specific procedure prescribed in Article 3(1) and 6 Regulation No 1606/2002 and Articles 5a(1)-(4) and Article 10-11 Council Decision 1999/468/EC, i.e. the ‘Regulatory Procedure with Scrutiny’. All standards and interpretations are adopted as Commission Regulations to have ...

International Financial Reporting Standards (IFRS) are issued by an international private organisation, the International Accounting Standards Board (IASB). In order to become binding law in the EU, they must be ‘endorsed’ in a specific procedure prescribed in Article 3(1) and 6 Regulation No 1606/2002 and Articles 5a(1)-(4) and Article 10-11 Council Decision 1999/468/EC, i.e. the ‘Regulatory Procedure with Scrutiny’. All standards and interpretations are adopted as Commission Regulations to have directly binding effect without the need for national implementation.

The Basis of the Endorsement Procedure for IFRS Accounting Standards

16-05-2016

international Financial Reporting Standards (IFRS) are issued by an international private organisation, the International Accounting Standards Board (IASB). In order to become binding law in the EU, they must be ‘endorsed’ in a specific procedure prescribed in Article 3(1) and 6 Regulation No 1606/2002 and Articles 5a(1)-(4) and Articles 10-11 Council Decision 1999/468/EC, i.e. the ‘Regulatory Procedure with Scrutiny’. All standards and interpretations are adopted as Commission Regulations to have ...

international Financial Reporting Standards (IFRS) are issued by an international private organisation, the International Accounting Standards Board (IASB). In order to become binding law in the EU, they must be ‘endorsed’ in a specific procedure prescribed in Article 3(1) and 6 Regulation No 1606/2002 and Articles 5a(1)-(4) and Articles 10-11 Council Decision 1999/468/EC, i.e. the ‘Regulatory Procedure with Scrutiny’. All standards and interpretations are adopted as Commission Regulations to have directly binding effect without the need for national implementation.

An Academic View on the Role and Powers of National Competition Authorities

19-04-2016

This study provides background on the ‘ECN plus project’ by describing the European Competition Network (ECN) and the role of National Competition Authorities (NCAs). It investigates the decentralisation of the enforcement of EU competition rules and the structure and the cooperation mechanisms of the ECN as well as the experiences with decentralised enforcement and the ECN during the last decade. The ECN has functioned largely successfully as a platform for NCAs' cooperation and the voluntary harmonisation ...

This study provides background on the ‘ECN plus project’ by describing the European Competition Network (ECN) and the role of National Competition Authorities (NCAs). It investigates the decentralisation of the enforcement of EU competition rules and the structure and the cooperation mechanisms of the ECN as well as the experiences with decentralised enforcement and the ECN during the last decade. The ECN has functioned largely successfully as a platform for NCAs' cooperation and the voluntary harmonisation of national procedural rules. However, national regimes still differ in certain aspects, particularly in Member States that follow the judicial enforcement model and/or that impose criminal remedies on breaches of competition rules. This study was provided by Policy Department A at the request of the ECON Committee.

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