65

result(s)

Word(s)
Publication type
Policy area
Author
Date

Review of the European Market Infrastructure Regulation (EMIR): Updated rules on supervision of central counterparties (CCPs)

18-02-2019

The increasing importance of central counterparties (CCPs) and challenges such as the United Kingdom's withdrawal from the EU call for a more comprehensive supervision of CCPs in EU and non-EU countries to secure financial market infrastructure and build confidence. In June 2017, the Commission proposed amendments to Regulation (EU) No 1095/2010 (ESMA – European Securities and Markets Authority) and Regulation (EU) No 648/2012 (EMIR – European Market Infrastructure), to strengthen the regulatory ...

The increasing importance of central counterparties (CCPs) and challenges such as the United Kingdom's withdrawal from the EU call for a more comprehensive supervision of CCPs in EU and non-EU countries to secure financial market infrastructure and build confidence. In June 2017, the Commission proposed amendments to Regulation (EU) No 1095/2010 (ESMA – European Securities and Markets Authority) and Regulation (EU) No 648/2012 (EMIR – European Market Infrastructure), to strengthen the regulatory framework: EU CCPs would be supervised by national authorities in agreement with ESMA, and third-country CCPs subject to different requirements depending on whether (or not) they are systemically important. The European Parliament’s Economic and Monetary Affairs Committee (ECON) adopted its report in May 2018, and the Council agreed its position in November. Trilogue negotiations are now under way.

EU framework for FDI screening

08-02-2019

On 13 September 2017, the European Commission adopted a proposal for a regulation establishing a framework for screening foreign direct investment (FDI) inflows into the EU on grounds of security or public order. The proposal is a response to a rapidly evolving and increasingly complex investment landscape. It aims to strike a balance between maintaining the EU's general openness to FDI inflows and ensuring that the EU's essential interests are not undermined. Recent FDI trends and policies of emerging ...

On 13 September 2017, the European Commission adopted a proposal for a regulation establishing a framework for screening foreign direct investment (FDI) inflows into the EU on grounds of security or public order. The proposal is a response to a rapidly evolving and increasingly complex investment landscape. It aims to strike a balance between maintaining the EU's general openness to FDI inflows and ensuring that the EU's essential interests are not undermined. Recent FDI trends and policies of emerging FDI providers have cast doubt on the effectiveness of the current decentralised and fragmented formal system of FDI screening in place, and in use in only some EU Member States, to adequately address the potential (cross-border) impact of FDI inflows on security or public order without EU-coordinated cooperation among all EU Member States. The proposal's objective is neither to harmonise the formal FDI screening mechanisms currently used by half of the Member States, nor to replace them with a single EU mechanism. Instead, it aims to enhance cooperation and information-sharing on FDI screening between the Commission and Member States, and to increase legal certainty and transparency. The European Parliament's Committee on International Trade (INTA) and the Council adopted their positions in May and June 2018 respectively, and interinstitutional negotiations concluded in November 2018 with a provisional text. That was first endorsed by the Member States' Permanent Representatives (Coreper) and then by INTA in December 2018, and the text will be submitted for a vote in the European Parliament's plenary session of February 2019. Third edition. The ‘EU Legislation in Progress’ briefings are updated at key stages throughout the legislative procedure. Please note this document has been designed for on-line viewing.

Prudential requirements and supervision of investment firms

23-11-2018

Investment firms play an important role in capital markets, facilitating savings and investment flows across the EU. However, the current EU rules are seen as fragmented, overly complex, inconsistently applied and often a poor fit for the actual risks taken by the various types of investment firms. The Commission has proposed a new regulation on the prudential requirements of investment firms and a new directive on the prudential supervision of investment firms. These proposals update the framework ...

Investment firms play an important role in capital markets, facilitating savings and investment flows across the EU. However, the current EU rules are seen as fragmented, overly complex, inconsistently applied and often a poor fit for the actual risks taken by the various types of investment firms. The Commission has proposed a new regulation on the prudential requirements of investment firms and a new directive on the prudential supervision of investment firms. These proposals update the framework for investment firms, making it more effective and more closely calibrated to the size and nature of the various investment firms and their risks. Parliament's Committee on Economic and Monetary Affairs (ECON) agreed its report and negotiating mandate on 24 September 2018. Work in Council is ongoing.

Rules for EU institutions' processing of personal data

12-09-2018

In the context of the comprehensive reform of the EU's legal framework for data protection, the Commission tabled a proposal in January 2017 for a 'regulation on the protection of individuals with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and the free movement of such data' and repealing the existing one (Regulation No 45/2001). The aim is to align it to the 2016 General Data Protection Regulation (GDPR) that has been fully applicable since ...

In the context of the comprehensive reform of the EU's legal framework for data protection, the Commission tabled a proposal in January 2017 for a 'regulation on the protection of individuals with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and the free movement of such data' and repealing the existing one (Regulation No 45/2001). The aim is to align it to the 2016 General Data Protection Regulation (GDPR) that has been fully applicable since 25 May 2018. Interinstitutional trilogue meetings, in which debate focused on also applying the regulation to operational data of EU bodies carrying out law enforcement activities, brought an agreement between the co-legislators in May. The compromise text is due to be voted by the Parliament in the September plenary session. Third edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.

Cross-border mobility of companies and use of digital solutions in company law

12-09-2018

In order to facilitate the freedom of establishment for companies, the Commission is proposing rules regarding the use of digital tools and processes throughout companies’ lifecycles and rules regarding cross-border conversions, mergers and divisions. This initial appraisal of the Commission’s impact assessment on the proposals observes that the impact assessment is very wide in scope and hence quite complex, but nevertheless manages to make a persuasive case to back the regulatory action being proposed ...

In order to facilitate the freedom of establishment for companies, the Commission is proposing rules regarding the use of digital tools and processes throughout companies’ lifecycles and rules regarding cross-border conversions, mergers and divisions. This initial appraisal of the Commission’s impact assessment on the proposals observes that the impact assessment is very wide in scope and hence quite complex, but nevertheless manages to make a persuasive case to back the regulatory action being proposed

Land use in the EU 2030 climate and energy framework

19-07-2018

On 20 July 2016, the European Commission proposed a regulation regarding the inclusion of greenhouse gas (GHG) emissions and removals from land use and forestry in the EU 2030 climate and energy framework. This would be the first time that the land-use sector is formally included in EU climate policy. The regulation would require Member States to balance emissions and removals from the land-use sector over two five-year periods between 2021 and 2030. It sets out accounting rules and allows for certain ...

On 20 July 2016, the European Commission proposed a regulation regarding the inclusion of greenhouse gas (GHG) emissions and removals from land use and forestry in the EU 2030 climate and energy framework. This would be the first time that the land-use sector is formally included in EU climate policy. The regulation would require Member States to balance emissions and removals from the land-use sector over two five-year periods between 2021 and 2030. It sets out accounting rules and allows for certain flexibilities. The new regulation is part of the EU’s efforts to reduce its GHG emissions by 40% below 1990 levels by 2030. This target was set by the European Council in October 2014, and is also the EU’s international commitment under the Paris Agreement on climate change. After completion of the legislative procedure, the final act was signed on 30 May 2018. The regulation entered into force on 9 July 2018. Fifth edition. The ‘EU Legislation in Progress’ briefings are updated at key stages throughout the legislative procedure. Please note this document has been designed for on-line viewing.

Environmental Reporting Initiative: Implementation Appraisal

17-05-2018

Member States' success in implementing environmental legislation can be measured through the information they send to the European Commission (reporting), which is based on the control activities they carry out (monitoring). In its 2018 work programme, the European Commission announced its intention to streamline requirements in this area, as a follow-up to a Fitness Check on Environmental Monitoring and Reporting (finalised in June 2017).

Member States' success in implementing environmental legislation can be measured through the information they send to the European Commission (reporting), which is based on the control activities they carry out (monitoring). In its 2018 work programme, the European Commission announced its intention to streamline requirements in this area, as a follow-up to a Fitness Check on Environmental Monitoring and Reporting (finalised in June 2017).

Revision of the visa code

27-04-2018

Although an increasing number of people have been travelling to the EU for tourism and business in recent years, visa application procedures are still costly and cumbersome. With the recast proposal on the visa code, the Commission aims to facilitate tourism, trade and business, whilst strengthening security and mitigating irregular migration. The impact assessment accompanying the proposal provides an overall convincing analysis tackling the problems of (1) insufficient finances to support visa ...

Although an increasing number of people have been travelling to the EU for tourism and business in recent years, visa application procedures are still costly and cumbersome. With the recast proposal on the visa code, the Commission aims to facilitate tourism, trade and business, whilst strengthening security and mitigating irregular migration. The impact assessment accompanying the proposal provides an overall convincing analysis tackling the problems of (1) insufficient finances to support visa processing; and (2) Member States' diverging practices when issuing multiple-entry visas. The Commission, however, also proposed (3) to address the lack of cooperation of some third countries in readmission matters in the visa code. One would have expected a more thorough analysis on this last aspect considering that there is no hard evidence on how visa leverage can translate into better cooperation with third countries on readmission. The Commission made efforts to consult with stakeholders and provide data, yet, the IA displays a general lack of data, statistics and evidence.

The regions in the digital single market: ICT and digital opportunities for European regions

19-04-2018

The digital economy is growing at seven times the rate of the rest of the economy. The European Commission estimates that completing the digital single market could contribute €415 billion per year to Europe's economy, create 3.8 million jobs and transform public services. In addition, many future jobs will require information and communications technologies (ICT) skills, rendering the process of acquiring digital skills an imperative. The European Commission has presented several initiatives to ...

The digital economy is growing at seven times the rate of the rest of the economy. The European Commission estimates that completing the digital single market could contribute €415 billion per year to Europe's economy, create 3.8 million jobs and transform public services. In addition, many future jobs will require information and communications technologies (ICT) skills, rendering the process of acquiring digital skills an imperative. The European Commission has presented several initiatives to boost the use of ICT in Europe. The Digital Agenda for Europe, announced in 2010 in the framework of the Europe 2020 strategy, aimed at promoting economic recovery and improving social inclusion through a more digitally proficient Europe. The Digital Single Market strategy, introduced in 2015, complements the Digital Agenda for Europe. Achieving a digital single market will ensure that Europe maintains its position as a world leader in the digital economy, helping European companies to grow globally. In 2016, the European Commission adopted a new Skills Agenda for Europe which includes measures on the acquisition of digital skills. Although many of the digital single market priorities are primarily dealt with at national level, various initiatives can be explored at the local and regional level. Regions and cities can plan and pursue their own digital strategies in the interests of enhancing economic growth and to promote their citizens' wellbeing. Enhanced use of digital technologies can improve citizens' access to information and culture, promote open government, equality and non-discrimination. However, a number of challenges need to be addressed to fully reap the benefits of digitalisation. Personnel with ICT skills are still lacking in Europe and many European citizens are not adequately trained to carry out ICT-related tasks. In addition, broadband connectivity in some parts of Europe remains slow. Although certain EU regions and local authorities experiment with new technologies, not all of them have managed to provide a high-level range of digital services and ICT related activities. This briefing is an update of an earlier edition, published in October 2015.

Revision of the visa code

06-03-2018

The EU common visa code (the Visa Code) was adopted in 2009 by means of Regulation 810/2009. It establishes the procedures and conditions for issuing short-stay visas for entry into and transit through the Schengen area. This type of visa is valid for up to three months, whereas long-term visas (or residence permits) remain subject to national procedures. Regulation 767/2008 on the Visa Information System (VIS) defines the purpose and functionalities of the VIS, the computerised system aimed at facilitating ...

The EU common visa code (the Visa Code) was adopted in 2009 by means of Regulation 810/2009. It establishes the procedures and conditions for issuing short-stay visas for entry into and transit through the Schengen area. This type of visa is valid for up to three months, whereas long-term visas (or residence permits) remain subject to national procedures. Regulation 767/2008 on the Visa Information System (VIS) defines the purpose and functionalities of the VIS, the computerised system aimed at facilitating the exchange of data between EU Member States and associated countries applying the common visa policy. Since its adoption, EU policy as regards short-term visas has faced a significant challenge: the delicate equilibrium between the need to promote economic growth via mobility and tourism, on the one hand, and the need to ensure the security of the Schengen area, on the other. Assessments of the implementation of the Visa Code and the VIS have shown that the requirements for obtaining a Schengen visa have had a negative impact on tourism and as a result, on EU economic growth. That said, the extent to which the provisions of the Visa Code have contributed to preserving the security of the external borders is difficult to evaluate, since the full deployment of the VIS (both at consular posts worldwide and at Schengen border crossing points) was completed relatively recently (2016). In its work programme for 2018, the European Commission announced that proposals will be tabled to revise the Visa Code and upgrade the VIS. The revision of the Visa Code, in particular, will aim at overcoming divisions triggered by the visa package submitted by the Commission in 2014. Thus far, the co-legislators have not reached an agreement on this set of measures. On the other hand, efforts to upgrade the VIS will be aimed at enhancing visa processing further, among other things through improving law enforcement authorities' access to the VIS, including new categories of data in the system, and ensuring the interoperability of the VIS with the other existing large-scale IT systems in the area of freedom, security and justice.

Partners

Stay connected

email update imageEmail updates system

You can follow anyone or anything linked to the Parliament using the email updates system, which sends updates directly to your mailbox. This includes the latest news about MEPs, committees, the news services or the Think Tank.

You can access the system from any page on the Parliament website. To sign up and receive notifications on Think Tank, simply submit your email address, select the subject you are interested in, indicate how often you want to be informed (daily, weekly or monthly) and confirm the registration by clicking on the link that will be emailed to you.

RSS imageRSS feeds

Follow all news and updates from the European Parliament website by making use of our RSS feed.

Please click on the link below to configure your RSS feed.