European Union directives

Press release - MEPs: Minimum wage is a remedy for inequality and in-work poverty

Retrieved on: 
Wednesday, February 10, 2021
Articles, Organizations, European Union directives, Continents, Aid, Poverty, Directive (EU) 2019/1158, European Union

MEPs therefore urge the Commission and member states to include the prevention of in-work poverty in their overall goal to end poverty in the EU.

Key Points: 
  • MEPs therefore urge the Commission and member states to include the prevention of in-work poverty in their overall goal to end poverty in the EU.
  • Equal labour conditions for platform workers

    The legislative framework on minimum working conditions must be enforced for all workers as another important element of the fight against in-work poverty, MEPs underline.

  • Work-life balance

    Transposing and implementing the Work-Life Balance Directive is key to fighting poverty and inequality, MEPs say.

  • For this reason alone, we need urgent action to ensure a life free from poverty for all.

Consultation on Guidelines on appropriateness and execution only

Retrieved on: 
Saturday, January 30, 2021
Money, European Union directives, Economy, Directive 2014/65/EU, European Union, Financial regulation, Systemic risk, Investment management, Investment fund, Finance, Draft:Equivalence in financial services, RSRCHXchange

This paper is primarily of interest to competent authorities and investment firms that are subject to Directive 2014/65/EU of the European Parliament and of the Council (MiFID II).

Key Points: 
  • This paper is primarily of interest to competent authorities and investment firms that are subject to Directive 2014/65/EU of the European Parliament and of the Council (MiFID II).
  • In particular, this paper is addressed to investment firms and credit institutions providing investment services and activities, investment firms and credit institutions when selling structured deposits and external Alternative Investment Fund Managers (AIFMs) when providing investment services.
  • ESMA invites comments on all matters in this paper and in particular on the specific questions summarised in Annex 1.
  • Comments are most helpful if they:

    ESMA will consider all comments received by 29 April 2021.

Consultation on Guidelines on appropriateness and execution only

Retrieved on: 
Friday, January 29, 2021
Money, European Union directives, Economy, Directive 2014/65/EU, European Union, Financial regulation, Systemic risk, Investment management, Investment fund, Finance, Draft:Equivalence in financial services, RSRCHXchange

This paper is primarily of interest to competent authorities and investment firms that are subject to Directive 2014/65/EU of the European Parliament and of the Council (MiFID II).

Key Points: 
  • This paper is primarily of interest to competent authorities and investment firms that are subject to Directive 2014/65/EU of the European Parliament and of the Council (MiFID II).
  • In particular, this paper is addressed to investment firms and credit institutions providing investment services and activities, investment firms and credit institutions when selling structured deposits and external Alternative Investment Fund Managers (AIFMs) when providing investment services.
  • ESMA invites comments on all matters in this paper and in particular on the specific questions summarised in Annex 1.
  • Comments are most helpful if they:

    ESMA will consider all comments received by 29 April 2021.

EBA consults on its new Guidelines on the monitoring of the threshold for establishing an intermediate EU parent undertaking

Retrieved on: 
Friday, January 15, 2021
European Union directives, European Union, Financial services, Capital requirement, Bank regulation, Banking, European Banking Authority, Capital Requirements Directives

15 January 2021

Key Points: 
  • 15 January 2021

    The European Banking Authority (EBA) launched today public consultations on its new Guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate EU parent undertakings (IPU) as laid down in the Capital Requirements Directive (CRD).

  • In accordance with Article 21b of the CRD, institutions belonging to third-country groups with a total value of assets in the Union of the group equal to or greater than EUR 40 billion must establish an intermediate EU parent undertaking (IPU).
  • Consultation process

    Comments to the two consultations can be sent to the EBA by clicking on the "send your comments" button on therespective consultation page.

  • The EBA Guidelines will apply to competent authorities across the EU, as well as to financial institutions belonging to third-country groups and operating in the Union.

INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Magnite, Inc. (MGNI) on Behalf of Investors

Retrieved on: 
Saturday, January 9, 2021
Legal, Professional services, European Union directives

Law Offices of Howard G. Smith announces an investigation on behalf of Magnite, Inc. (Magnite or the Company) (NASDAQ: MGNI ) investors concerning the Companys possible violations of federal securities laws.

Key Points: 
  • Law Offices of Howard G. Smith announces an investigation on behalf of Magnite, Inc. (Magnite or the Company) (NASDAQ: MGNI ) investors concerning the Companys possible violations of federal securities laws.
  • The report further stated that evidence shows Magnite is running two separate businesses, yet only reporting one operating segment, allowing it to bury clarity into its struggles.
  • On this news, Magnite's stock price fell $1.70 per share, or 6%, to close at $25.61 per share on January 7, 2021, thereby injuring investors.
  • This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Call for candidates for the ESA’s Board of Appeal

Retrieved on: 
Saturday, January 9, 2021
European Union law, European Union, EUR-Lex, European Union directives, Euro, 2 euro commemorative coins, Framework decision

08 January 2021

Key Points: 

08 January 2021

Board of Appeal

Joint Committee

A call for expression of interest by the European Commission for the appointment of members of the ESA’s Board of Appeal for the financial services sector has been launched: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:C:2021:006A:TOC

Closing date for applications to the European Commission is 8 February 2021.

Call for candidates for the ESA’s Board of Appeal

Retrieved on: 
Friday, January 8, 2021
European Union law, European Union, EUR-Lex, European Union directives, Euro, 2 euro commemorative coins, Framework decision

08 January 2021

Key Points: 

08 January 2021

Board of Appeal

Joint Committee

A call for expression of interest by the European Commission for the appointment of members of the ESA’s Board of Appeal for the financial services sector has been launched: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:C:2021:006A:TOC

Closing date for applications to the European Commission is 8 February 2021.

Press release - MEPs approve deal on tap water and demand that EU water legislation be respected

Retrieved on: 
Tuesday, December 1, 2020
European Union directives, European Union, Organizations, Articles, Water Framework Directive, Directive 98/83/EC, Directive, Water supply and sanitation in the European Union

They also aim to cut plastic litter by encouraging the use of tap water.

Key Points: 
  • They also aim to cut plastic litter by encouraging the use of tap water.
  • Comply with EU water legislation by 2027

    The Committee also adopted a resolution on the implementation of EU water legislation with 68 votes to 2 and 10 abstentions.

  • Next steps

    The plenary will vote on the deal on the drinking water directive and on the resolution on the implementation of the EU water legislation during its 14 - 17 December session.

  • While the Water Framework Directive established a framework to protect 110.000 bodies of surface water in the EU, the implementation has been lacking.

ESMA tells fund managers to improve readiness for future adverse shocks

Retrieved on: 
Friday, November 13, 2020
Finance, Money, Economy, Investment, European Union directives, Financial markets, Directive 2009/65/EC, European Union law, Market liquidity, Liquidity risk

Five priority areas have been identified to enhance the preparedness of the funds and relate to the following topics:Ongoing supervision of the alignment of the funds’ investment strategy, liquidity profile and redemption policy;Ongoing supervision of liquidity risk assessment;Fund liquidity profile reporting;Increase of the availability and use of LMTs; andSupervision of valuation processes in a context of valuation uncertainty.ESMA coordinated a supervisory exercise with national securities regulators involving collecting and analysing data on funds exposed to corporate debt and funds exposed to real estate.

Key Points: 
  • Five priority areas have been identified to enhance the preparedness of the funds and relate to the following topics:
    1. Ongoing supervision of the alignment of the funds’ investment strategy, liquidity profile and redemption policy;
    2. Ongoing supervision of liquidity risk assessment;
    3. Fund liquidity profile reporting;
    4. Increase of the availability and use of LMTs; and
    5. Supervision of valuation processes in a context of valuation uncertainty.
    • ESMA coordinated a supervisory exercise with national securities regulators involving collecting and analysing data on funds exposed to corporate debt and funds exposed to real estate.
    • The exercise showed that the funds in question managed to respond adequately to redemption pressures.
    • We also encourage swift proposals to amend the EU legislative framework to ensure that liquidity management tools are widely available to asset managers across the EU.
    • In addition, some funds presented potential liquidity mismatches due to their liquidity set up that should be addressed.
    • Against this background, fund managers authorised under UCITS and AIFM Directives should enhance their preparedness to potential future adverse shocks that could lead to a deterioration in financial market liquidity and valuation uncertainty.
    • ESMA has also organised regular data collection on the use of LMTs by EEA UCITS and AIFs.

    • ESMA tells fund managers to improve readiness for future adverse shocks

    Retrieved on: 
    Friday, November 13, 2020
    Finance, Money, Economy, Investment, European Union directives, Financial markets, Directive 2009/65/EC, European Union law, Market liquidity, Liquidity risk

    Five priority areas have been identified to enhance the preparedness of the funds and relate to the following topics:Ongoing supervision of the alignment of the funds’ investment strategy, liquidity profile and redemption policy;Ongoing supervision of liquidity risk assessment;Fund liquidity profile reporting;Increase of the availability and use of LMTs; andSupervision of valuation processes in a context of valuation uncertainty.ESMA coordinated a supervisory exercise with national securities regulators involving collecting and analysing data on funds exposed to corporate debt and funds exposed to real estate.

    Key Points: 
  • Five priority areas have been identified to enhance the preparedness of the funds and relate to the following topics:
    1. Ongoing supervision of the alignment of the funds’ investment strategy, liquidity profile and redemption policy;
    2. Ongoing supervision of liquidity risk assessment;
    3. Fund liquidity profile reporting;
    4. Increase of the availability and use of LMTs; and
    5. Supervision of valuation processes in a context of valuation uncertainty.
    • ESMA coordinated a supervisory exercise with national securities regulators involving collecting and analysing data on funds exposed to corporate debt and funds exposed to real estate.
    • The exercise showed that the funds in question managed to respond adequately to redemption pressures.
    • We also encourage swift proposals to amend the EU legislative framework to ensure that liquidity management tools are widely available to asset managers across the EU.
    • In addition, some funds presented potential liquidity mismatches due to their liquidity set up that should be addressed.
    • Against this background, fund managers authorised under UCITS and AIFM Directives should enhance their preparedness to potential future adverse shocks that could lead to a deterioration in financial market liquidity and valuation uncertainty.
    • ESMA has also organised regular data collection on the use of LMTs by EEA UCITS and AIFs.