Publication Archive

This archive contains all documents published by cep over the last few years:

cepAdhoc: Incisive comment on current EU policy issues.

cepPolicyBrief: Concise 4-page reviews of EU proposals (Regulations, Directives, Green Papers, White Papers, Communications) – including a brief summary and economic and legal assessments.

cepInput: Impulse to current discussions of EU policies.

cepStudy: Comprehensive examination of EU policy proposals affecting the economy.

 

 

2014

The Commission wishes to improve the transparency of financial market transactions, move derivatives trading to organised trading venues and strengthen supervision and competition. Moreover, it intends to strengthen investor protection. 

2014

The Commission wishes to improve the transparency of financial market transactions, move derivatives trading to organised trading venues and strengthen supervision and competition. Moreover, it intends to strengthen investor protection. 

2014

The wishes to limit the term of the contracts entered into by credit rating agencies and issuers as well as the participation volume in credit rating agencies in order to strengthen the independence of credit rating agencies. In future, structured finance instruments will be subjected to ratings by at least two credit rating agencies. Moreover, the Commission wishes to prescribe civil liability for credit rating agencies. 

2014

The Commission proposes to introduce EU-wide minimum rules regarding criminal sanctions for insider dealing and market manipulation. It wishes to harmonise the offences yet not the levels of penalties. To date, there are only administrative sanctions. The Commission’s aim is to increase the deterrent effect of national sanctions. 

2014

The tax is to apply to transactions with financial instruments, both in the organised markets and over-the-counter trading. It is to generate revenues for the public purse and to increase the stability of financial markets. The Commission expects EU-wide tax revenues of roughly 57 billion Euros a year. They are to flow wholly or partly into the EU budget through an own resources system of the European Union.

2014

Additional own funds buffers are to strengthen the banking sector’s resistance to losses and to smooth credit lending to economic cycles. The introduction of a binding leverage ratio and stricter liquidity requirements is to be examined. Infringements of rules are to be subjected to EU-wide sanctions. 

2014

Additional own funds buffers are to strengthen the banking sector’s resistance to losses and to smooth credit lending to economic cycles. The introduction of a binding leverage ratio and stricter liquidity requirements is to be examined. Infringements of rules are to be subjected to EU-wide sanctions.

2014

With its White Paper, the Commission instigates a discussion on how to provide policyholders with comprehensive protection that is harmonised at EU level for the event of insurance companies becoming insolvent. Similar to the bank deposit guarantee scheme, the Commission’s aim is to establish a European guarantee scheme for insurances covering both life and non-life insurances. 

2014

The Commission proposes a Directive serving to contribute to a “smoothly functioning internal market with a high level of consumer protection” for mortgage lending. Herein the Commission focuses on consumer protection and rules for the activities of credit intermediaries.

2014

The Commission wishes to introduce a number of amendments to the Prospectus and Solvency II Directive. The aim is to extend the powers of the EU supervisory authorities (ESMA and EIOPA) to develop technical standards, to substantiate their arbitration powers and to introduce transitional periods for the Solvency II Directive. In addition, the Commission’s power to adopt implementing measures, which are still based on the legal position of the Treaty of Nice, are to be adapted to the Lisbon Treaty.