The Regulation prohibits "proprietary trading" by larger banks and permits the banking regulators to prohibit "trading activities" so that the trading concerned is only carried out by companies which are separate from the bank.

cep analyses the plans enabling the ESM to directly recapitalise ailing banks in the Eurozone. Also, the further development of the ESM serving as backstop for the banking union in being analysed.

The Commission wants to introduce a EU-wide reporting obligation for securities financing transactions, tighten rules on the rehypothecation of securities and extend the information requirements for investment funds.

With the proposal for a Directive on a 2nd Payment Services Directive, the Commission wants to promote the European payments market and encourage transparency, security and innovation in relation to payments.

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

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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”.

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.

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.

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.