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.

 

 

2018

The Commission is pressing for a more sustainable financial sector and has therefore submitted an Action Plan on the financing of sustainable growth. This provides inter alia for a classification system for sustainability (“EU taxonomy”) that will provide a basis for “sustainable” action by financial institutions, rating agencies, market analysts and investors.

2018

The EU Commission wants to contribute to the promotion of the cross-border sale of investment funds. The corresponding proposals for a regulation and a directive provide, among other things, that so-called undertakings for collective investments in transferable securities (UCITS) and alternative investment funds (AIF) may not be obliged to be "physically present" in the host Member States.

2018

The responsibilities and powers of the European Securities and Markets Authority (ESMA) are to be significantly widened. For this purpose, the EU Commission has proposed a Regulation. In addition to ESMA, this will principally affect investment funds, investment firms, trading venues, data reporting services, benchmark administrators and contributors, issuers and of course investors.

2018

The supervision of investment firms in the EU should be more adapted to their respective business models and risks. With this aim, the EU Commission has developed a proposal for a Directive which, by dividing investment firms into three classes, counteracts the consolidation of the sector brought about by regulation.

2018

The supervision of investment firms in the EU will become more adapted to their business models and risks. For this purpose, the EU Commission has proposed inter alia a Regulation on prudential requirements for investment firms.

2018

The European Stability Mechanism (ESM) will be transformed into the “European Monetary Fund” (EMF) and incorporated into EU law. In addition, the EU Commission wants to establish a financial backstop for the European Single Resolution Board (SRB) by way of the EMF.

2018

The European supervisory authority EIOPA will take on more responsibility for the supervision of insurance companies. In this regard, the establishment of an independent Executive Board may reduce Member States’ ability to interpret EU regulations improperly, to their own advantage. The establishment of an Executive Board will also facilitate the punishment of infringements of EU law committed by national supervisory authorities (NSAs) and allow for more effective resolution of conflicts between NSAs.

2018

With the creation of an EU Finance Minister, the European Commission wants to improve coordination of economic policy in the EU. With this aim, he will combine three offices into one - EU Commissioner for Economic and Monetary Union, Chair of the Eurogroup and Chair of the Board of Governors of the European Monetary Fund.

2018

The European Commission wants to give the European Banking Authority (EBA) more responsibility for financial supervision. In cep’s view, however, the EBA’s new tasks, to allow for “ecological and social factors” and to promote consumer protection, may lead to a conflict of interest with its actual task - safeguarding financial stability.