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 wants to restrict the level of interchange fees for card payments and eliminate anti-competitive business rules and practices.

2014

The Communication sets out the up-dated EU crisis rules for state aid to banks during the crisis from 1st August 2013. It replaces the 2008 Banking Communication and supplements the remaining crisis rules. Together, they define the common EU conditions under which Member States can support banks with funding guarantees, recapitalisations or asset relief and the requirements for a restructuring plan.

2014

With the creation of a new type of European investment fund (ELTIF), the Commission wants to channel "patient" capital from both professional and retail investors into infrastructure projects, property and non-listed companies.

2014

The Commission wants to increase the distribution of building insurance for elemental damage and ensure that industrial companies can afford to remedy environmental damage.

2014

The Commission proposes that, in future, it will decide, together with a new Resolution Board, on the resolution of banks in SSM States. In addition, a Single Resolution Fund will be set up to finance the resolution costs.

2014

The Commission wants to grant all EU citizens the right to have a payment account with basic features (basic account), make it easier to switch banks, particularly across borders, and improve the transparency and comparability of fees.

2014

The Commission initiates a discussion on a range of possible measures which could help to promote the long-term financing of investment. These include government-backed savings models, greater focus on the capital markets in relation to financing, more voting rights for long-term shareholders and investment funds aimed at long-term investors.

2014

In 2011, the Commission proposed a Directive for an FTT for the whole of the EU but the required unanimous agreement of the Council could not be achieved. The Commission is now proposing to introduce the FTT by way of enhanced cooperation between eleven Member States. The FTT is intended to generate more tax revenue and increase stability in the financial markets.

2014

The Regulation is to ensure complete traceability of transfers of funds in order to facilitate the "prevention, detection and investigation" of money laundering and terrorist financing. The Commission wants the Regulation to implement the recommendations of the Financial Action Transaction Force (FATF) of 2012. The FATF is an international body which develops measures to combat money laundering and terrorist financing.

2014

The Commission is seeking to prevent banking crises, strengthen financial stability and ensure that taxpayers do not shoulder the burden of future banking crises by establishing a recovery and resolution regime for banks and investment firms. Part 1 of the CEP Policy Brief deals with recovery and resolution plans and with further crisis prevention measures.

2014

The Commission is seeking to prevent banking crises, strengthen financial stability and ensure that taxpayers do not shoulder the burden of future banking crises by establishing a recovery and resolution regime for banks and investment firms.

2014

The Commission extends the scope of the current directive by including direct selling of insurances. In the future, intermediaries have to disclose to clients the commission or any other remuneration they receive upon selling an insurance. Only those intermediaries abstaining from commissions can call themselves “independent”.

2014

The Commission wishes to introduce uniform key information documents on investment products (PRIPS) in order to strengthen investor protection and to create a level playing field for investment product manufacturers. The key information documents must be provided to retail investors before the acquisition of an investment product (e.g. an investment fund) and must have a standardised structure.

2014

The Commission wishes to delegate key tasks of banking supervision from national banking au-thorities to the European Central Bank (ECB). The tasks of the European Banking Authority (EBA) and the voting rules in its supervisory council must be adjusted accordingly.

2014

The Commission wishes to delegate key tasks of banking supervision from national banking au-thorities to the European Central Bank (ECB). The tasks of the European Banking Authority (EBA) and the voting rules in its supervisory council must be adjusted accordingly.

2014

According to the Commission, the costs and risks of cross-border securities transactions are too high compared to national securities transactions, the access of market actors – among them trade venues, central counterparties and central securities depositories – is limited and the competition between central securities depositories insufficient. The Commission wishes to address these deficits by measures to increase the safety of securities transactions and to open national securities markets. 

2014

The Green Paper serves for the Commission as a basis for discussion. It wishes to find out what exactly shadow banking entities are, which activities they exercise and which benefits and risks are related to them as well as what a future regulation of shadow banking could look like. 

2012

The Commission aims to implement a fully integrated payment market in the EU. In its Green Paper, the Commission presents action plans for the market integration.

2014

The Commission wishes to boost competition on the audit market by the obligation to change auditors regularly (“rotation rule”). A prohibition of non-audit services (e.g. tax advice) is to strengthen the independence of auditors. 

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.