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A responsible TPLF regulatory framework should aim at lowering costs, simplifying unnecessary procedures, increasing the predictability of costs, and delivering efficient services at costs that are proportionate to the amounts in dispute. We explored additional effective safeguards and a number of policy options regarding the contractual, ethical and procedural aspects of TPLF. We then estimated the European added value (EAV) for two alternatives, namely a moderate and a strong regulatory approach ...

This briefing gives an overview of measures proposed by the Financial Stability Board, the Basel Committee on Banking Supervision and the International Association of Insurance Supervisors to address the COVID-19 pandemic related financial consequences.

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 ...

Banking Union: What next?

Djupanalys 18-07-2019

This briefing summarises the key areas of possible regulatory initiatives with a view to further completing the Banking Union: (1) EDIS, (2) Further harmonisation of banking law (“single rule book’), (3) Home/host issues, (4) Resolution financing, (5) Further harmonisation of insolvency law, (6) safe assets and regulatory treatment of sovereign exposures and (7) AML supervision. These issues are further explained in additional thematic briefings.

Robotics is a wide and multi-faceted domain, which crosses boundaries between many economics sectors and legal disciplines. The perception of a need for some kind of Europe-wide legal framework to accompany the development of robotic and artificial intelligence (AI) technologies is growing. A harmonised EU regulatory framework concerning specifically liability and insurance regarding robotics and AI could provide greater legal certainty and promote trust. It could also stimulate greater research ...

This study – commissioned by the European Parliament’s Policy Department for Citizens’ Rights and Constitutional Affairs at the request of the JURI Committee – analyses existing European and national legislation on the regulation of drones for civil use, discussing how they are defined and classified, whether certification and registration is required, how liability is apportioned between the subjects involved, and if compulsory insurance is provided for. Finally, on the basis of a risk-management ...

This note, prepared by Policy Department A for the Committee on Economic and Monetary Affairs, summarises the main points presented by the study on “The UK’s Potential Withdrawal from the EU and Single Market Access under EU Financial Services Legislation”.

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 ...

‘Derivatives’, ‘central counterparties’ and ‘trade repositories’. What are they and how are they inter-related? Why was regulation necessary, and how does the European Market Infrastructure Regulation (EMIR) regulate? This paper places these elements in context and provides an introduction to the subject of over-the-counter derivatives, as well as the developments that led to the Commission's proposals for revision of the legislation in 2017.

This paper forms part of a series of nine studies on the role of the European Union (EU) in international economic fora prepared by Policy Department A at the request of the Committee on Economic and Monetary Affairs. It provides factual background information about the International Association of Insurance Supervisors (IAIS), the Union’s role and representation therein, its accountability as well as the coordination and impact thereof. A key conclusion is that the Union is well represented. As ...