regimes in the financial services sector” [COM(2010) 716] of December 2010, the Commission announced an examination of the question of whether or not and in which sectors the harmonization of the criminal [...] disclosed to the person charged with the execution of the financial transaction, or - derivatives on commodities and the related spot commodity contracts (which provide for the delivery of the commodities [...] cep Policy Brief No. 01/2012 of 9 January 2012 CONTENT Title Proposal COM(2011) 654 of 20 October 2011 for a Directive of the European Parliament and of the Council on criminal sanctions
Dateityp: application/pdf
Art. 55 of the Directive 2004/39/EC). – The Commission is to draw up a list of third countries whose supervision systems are equivalent to that of the EU. The supervision of global audit firms by [...] effect, for instance in the Code of Ethics of the International Ethics Standards Board for Accountants (IESBA). They strengthen the economic independence of auditors. The fact that the audit market is dominated [...] arguments to justify the Commission’s interfering with the structure of the auditor market. Disclosure requirements and ceilings for the admissible turnover share of individual clients of audit firms can
Dateityp: application/pdf
COMMUNICATION FROM THE COMMISSION TO THE COUNCIL, THE EUROPEAN PARLIAMENT, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS on the Review of the EU Regulatory Framework [...] aspects of the Article 7 market review mechanism, i.e., the definition of the relevant market, the assessment of SMP and the imposition or withdrawal of the relevant remedies; the Regulation could also [...] is one of the pillars of the i2010 strategy, partly filling the gap between the rights of the disabled and those of other users. The critical contribution that the ICT sector makes to the economy
Dateityp: application/pdf
PACKAGE The proposed approach constitutes a package of complementary actions. The package is part of the Commission’s work on the long-term financing of the European economy: it contributes to a more [...] impact of the package shall be carried out five years after the transposition deadline, and the appropriateness of eventual amendments may be considered on basis of the results of the evaluation. [...] possible ways to achieve the objectives of the Action Plan. 2. PROBLEM DEFINITION This impact assessment analyses a number of problems in the area of corporate governance. One of the key issues in corporate
Dateityp: application/pdf
cover each amounts to a maximum of 20% of the financial means of the DIF stipulated for the end of the re-insurance phase or 8% of the covered deposits of the banks in the respective national DGS, whichever [...] State. Thus the Commission alludes to the fact that it is not the funding level of the DGS but the varying credit ratings of the home state that can be crucial for the credibility of the DGS. Whether [...] 74b (1) and (2)) - 0.071% of the covered deposits at the end of the re-insurance phase; that would be approx. € 3.8 billion; - 0.8% of the covered deposits at the end of the co-insurance phase; that would
Dateityp: application/pdf
standardisation of the contractual parameters and standardisation of the contracts themselves to support market infrastructure. The nature of the OTC market so to be tailored made to fit the exact risk faced [...] standardisation that facilitate the use of electronic means4. On the other end, if the parameters of the contracts are standardised (e.g. coupons, strike prices, maturities, etc.), the flexibility toward users' [...] portion of European CDS will likely become eligible for CCP clearing. How much of the eligible contracts will actually be cleared is too early to say. The ten dealers having signed the letter of commitment
Dateityp: application/pdf
Subsidiarity Due to the lack of legislative authority of the EU, the issue of subsidiarity is not relevant in this context. Proportionality The extension of the principle of equality of charges to domestic [...] Regulation of the European Parliament and of the Council on cross-border payments in the Community Abstract ► Equal charges for payments within the EU – For cross-border payments of amounts up [...] 1 of Directive 2007/64/EC). – The “ultimate aim” pursued by the Commission is to “reduce the costs of cross border payments” (Statement of reasons for the Regulation, p. 6). ► Processing of cross-border
Dateityp: application/pdf
Subsidiarity Due to the lack of legislative authority of the EU, the issue of subsidiarity is not relevant in this context. Proportionality The extension of the principle of equality of charges to domestic [...] Regulation of the European Parliament and of the Council on cross-border payments in the Community Abstract ► Equal charges for payments within the EU – For cross-border payments of amounts up [...] 1 of Directive 2007/64/EC). – The “ultimate aim” pursued by the Commission is to “reduce the costs of cross border payments” (Statement of reasons for the Regulation, p. 6). ► Processing of cross-border
Dateityp: application/pdf
frameworks: – The provisions of the new Treaty on delegated acts, which are set out in Article 290 of the Treaty on the Functioning of the European Union (hereinafter "the Treaty"), provide for the legislator [...] frameworks, the authors of the new Treaty sought to reflect more closely the nature of these two different types of acts: – In the case of delegated acts, the legislator delegates to the Commission the power [...] g powers THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on the Functioning of the European Union; and in particular Article 291(3) thereof, Having regard
Dateityp: application/pdf
commit to the rules of the SGP. The unpredictability of the assessment paves the way for it to be contested. National governments could exploit the complexity of the rules to contest the adjustment [...] functioning of the SGP, stressing the importance of reform.11 This cepInput will therefore consider how the SGP should be reformed. Section 2 describes the functioning of the SGP, indicates the lack of compliance [...] ensuring the correction of excessive deficit of the member states of the euro area. 4 cepInput How can a reform of the SGP foster sound fiscal policies? years voiced their criticism of the
Dateityp: application/pdf